Kenya’s Inflation Falls
Kenya’s inflation (KECPI=ECI), fell in March compared with a month earlier.
The drop was driven by falling prices of some food items and transport costs, the statistics office said on Friday, March 29th, 2024.
Inflation dropped to 5.7% year-on-year in March from 6.3% in February, the Kenya National Bureau of Statistics said in a statement.
On a month-on-month basis, inflation was at 0.2% compared with 0.1% in February, the office said.
The government has a preferred range for inflation of between 2.5% and 7.5% in the medium term.
The central bank is due to announce its latest lending rate decision on April 3. In February, the bank raised its benchmark rate (KECBIR=ECI) to 13.0% from 12.5% previously.
