Nairobi – Kenya’s year-on-year inflation rate slowed to 6.84 per cent in February from 7.78 per cent in the previous month, the statistics office said on Monday.
February’s rate is the lowest since October last year, when it stood to 6.72 per cent, the statistics office said.
It added that the fall was driven by a -0.43 per cent monthly drop in the prices of food, which has the biggest weighting in the basket of goods used to measure inflation.
“This resulted from notable decreases in prices of key food items which slightly outweighed the increases,’’ the Kenya National Bureau of Statistics said.[pro_ad_display_adzone id=”70560″]
Prices of housing and transport also came down on a monthly basis, the bureau said.
The governor of the central bank Patrick Njoroge said in December, he expected inflation to be contained within the government’s preferred band of 2.5 to 7.5 per cent. (Reuters/NAN)