Kenya’s inflation down to 7.3% in 14 months to July

July 31, 2023

Less than a minute

November inflation down 5.8% from 6.45% in October — September inflation rate rises to 6.91% from 6.57% in August

Kenya’s year-on-year inflation fell to 7.3 percent in July from 7.9 percent in June.

The Kenya National Bureau of Statistics (KNBS) attributed the drop to falling food prices.

Inflation was 0.1% on a monthly basis compared with 0.8% in June, said KNBS in a statement Monday.

The food and non-alcoholic beverages index fell by 0.5% in July from a month earlier.

The index has a 32.91% weighting in calculating Kenyan inflation.

The drop is within the Central Bank of Kenya’s (CBK) band of 2.5%-7.5% in the medium term.

Quantitative tightening on inflationary pressure appears to be working following a record 10.5% benchmarking rate by the CBK in June from 9.5% in May.

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.