An employee clutches some bread loaves in a Nairobi supermarket, Kenya on May 8, 2017. © Baz Ratner/Reuters File Photo
Hold onto your hats because Kenya’s inflation (KECPI=ECI) dipped to 3.6% in September, compared with 4.4% in the prior month, as revealed by official statistics on Wednesday.
According to the Kenya National Bureau of Statistics, month-on-month inflation showed a slight uptick of 0.2% from a stagnant 0.0% the previous month.
Aiming for a sweet spot, Kenya eyes an inflation rate between 2.5% and 7.5% over the medium haul. The central bank is slated to divulge its next interest rate verdict on October 8.
Scooping off 25 basis points from its prime lending rate (KECBIR=ECI), the central bank eased the monetary policy a touch in August, citing inflation’s cozy nest below the midpoint of its aim.
Story by George Obulutsa; Craft by Tom Hogue
Edited by: Ali Musa
alimusa@axadletimes.com
Axadle international–Monitoring
