Kenya's inflation falls to 4.3% in July
A cashier handles Kenyan Shillings at a shop in Nairobi on November 21, 2023. Expensive curtains, lavish garden parties, luxury cars and jet-setting lifestyles: Kenya's cash-strapped government has been on a spending spree even as austerity measures take their toll on weary citizens. (Photo by SIMON MAINA / AFP)
On a monthly basis, inflation was -0.2% from 0.4% in June.
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 latest lending rate (KECBIR=ECI) decision on Aug.6.
At its last meeting in June, the bank held its benchmark lending rate (KECBIR=ECI) at 13.0%, saying inflation was stable within its near-term target range, and it aimed to keep exchange rate stability.
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