Inflation in Kenya Eases to 6.3%

Inflation in Kenya eased to 6.3% in February 2024, the lowest level in two years – according to the Central Bank of Kenya (CBK).

This is below the average inflation rate of 9.4% for the Sub-Saharan Africa region.

The CBK attributed the decline in inflation to lower prices of food, electricity, water and cooking gas.

However, the prices of transport and gas/LPG increased slightly in the same period.

Inflation rate is within its target range of 5% plus or minus 2.5 percentage points which CBKS uses to monitor the macroeconomic situation and take appropriate measures to ensure price stability.

Also Read: Inflation Eases Slightly in November Despite High Commodity Prices

During the month, the price of a litre of kerosene dropped by 0.5pc while that of petrol and diesel eased by 0.5%. However, the transport index went up by 0.2%.

Consumers however felt a 4.3pc increase in the prices of gas/LPG.

The Food and Non-Alcoholic Beverages Index rose by 0.3pc between January 2024 and February 2024.

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Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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