Kenyan Inflation Drops to 6.6% in July

Kenya annual inflation rate was reported at 6.62 percent in July, down from 7.03 percent in the previous month as cost of food eased.

On a year, the biggest upward pressure came from food prices (+12.1 percent, +13.4 percent in June); followed by housing, water, electricity and gas (+2.21 percent, +2.01 percent in June); clothing and footwear (+4.9 percent, +4.94 percent in June); and furnishings and household equipment (+4.1 percent, +4.37 percent in June). In contrast,  cost of transport continued to drop (-2.46 percent, -3.02 percent in June).

The central bank has a medium term inflation target range of between 2.5 percent and 7.5 percent.

On a monthly basis, the inflation rose 0.11 percent. The food and non-alcoholic, which accounts for more than a third of the index, declined by 0.60 percent as cost of maize, potatoes and cabbages decreased.

Kenyan Inflation Drops to 6.6% in July

Anna Fedec |
7/31/2015 12:42:54 PM