Thursday October 3, 2024
An employe holds loaves of bread at a supermarket in Nairobi, Kenya May 8, 2017. REUTERS/Baz Ratner/File photo Purchase Licensing Rights
Kenya’s inflation (KECPI=ECI), opens new tab fell to 3.6% year-on-year in September from 4.4% a month earlier, the statistics office said on Wednesday.
On a month-on-month basis inflation was at 0.2% from 0.0% a month earlier, the Kenya National Bureau of Statistics said in a statement.
The Kenyan government targets an inflation rate of between 2.5% and 7.5% in the medium term.
The central bank is due to announce its next interest rate decision on Oct. 8.
It cut its benchmark lending rate (KECBIR=ECI), opens new tab by 25 basis points in August, saying there was scope to ease policy gradually as inflation had fallen below the midpoint of its target range.
Reporting by George Obulutsa; Editing by Tom Hogue
