Kenya inflation at 3.8% year-on-year in June

Inflation was primarily driven by the rise in prices of items such as food and non-alcoholic beverages, transport and housing, the Kenya National Bureau of Statistics said in a statement.

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.

–Reuters–

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