Kenya’s Inflation Update

NAIROBI (Reuters) – Kenya’s inflation decreased to 4.3% year-on-year in July, down from 4.6% in June, according to the statistics office on Wednesday.

On a monthly basis, inflation showed a decrease of -0.2%, compared to 0.4% in June.

The Kenyan government aims for an inflation rate between 2.5% and 7.5% in the medium-term.

The central bank is set to announce its latest lending rate decision on August 6.

At its previous meeting in June, the bank maintained its benchmark lending rate at 13.0%, citing stable inflation within its near-term target range and a focus on exchange rate stability.