Kenyan Inflation Holds Steady At 3.8% As Water, Power Costs Ease

Kenya’s annual inflation rate flatlined in June helped by slower growth in utilities and housing prices.

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Consumer prices rose 3.8% from a year ago, the Kenya National Bureau of Statistics said Monday in an emailed statement.
That was slightly faster than the monetary policy committee’s 3.7% projection.

Inflation, according to the NBS, was primarily driven by the rise in prices of items such as food and non-alcoholic beverages, transport and housing.

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.