Inflation in Kenya slows to 6.7% in August

Inflation in Kenya slowed in August, helped by a month-on-month fall in food prices, the Kenya National Bureau of Statistics (KNBS) said on Thursday.

Inflation was 6.7% year-on-year in August from 7.3% a month earlier, while on a monthly basis inflation was -0.1% from 0.1% a month earlier.

Kenya has a preferred inflation band of 2.5%-7.5% in the medium term.

When the year-on-year inflation rate fell in July, it was the first time it had returned to within the government’s preferred band since May 2022.

Food and non-alcoholic beverages index fell by 0.5% in August from a month earlier. The index has a 32.91% weighting in calculating Kenyan inflation.

In July, the Central Bank of Kenya (CBK) held its benchmark lending rate at 10.5%, citing falling inflation.

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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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