Kenya’s inflation rate fell to 4.3% year-on-year in July, down from 4.6% in June, according to the statistics office’s report on Wednesday. On a monthly basis, inflation decreased by -0.2%, compared to a 0.4% rise in June.
The Kenyan government aims to keep inflation 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 central bank maintained its benchmark lending rate at 13.0%, citing stable inflation within its target range and a focus on maintaining exchange rate stability.