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

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 prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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