Kenya inflation at 3.8% in June
A teller handles Kenya shilling banknotes and U.S. dollar banknotes inside the cashier's booth at a forex exchange bureau in downtown Nairobi, Kenya, February 16, 2024. REUTERS/Thomas Mukoya/File photo
Audio By Vocalize
Kenya's inflation (KECPI=ECI) was at 3.8% year-on-year in June, same level as the previous month, the statistics office said on Monday.
Inflation was primarily driven by the rise in prices of items such as food and non-alcoholic beverages, transport and housing, the Kenya National Bureau of Statistics said in a statement.
Monthly inflation was at 0.5% in June, same as a month earlier, it said.
The central bank targets Kenya's inflation to be within the 2.5% to 7.5% range in the medium term.
In June, the bank cut its benchmark lending rate by 25 basis points to 9.75%, saying it wanted to provide further support to the economy.
Leave a Comment