Kenya’s annual inflation rose to 4.5% in August, up from 4.1% in July, as higher food and transport expenses weighed on households, Reuters disclosed.
Data from the Kenya National Bureau of Statistics (KNBS) showed that on a month-to-month basis, inflation increased by 0.3% in August, compared with 0.1% in July, reflecting the persistent rise in essential goods and transport costs, the outlet highlighted.
Despite the increase, inflation remains within the Central Bank of Kenya’s (CBK) medium-term target of 2.5% to 7.5%, giving policymakers space to maintain an accommodative stance. Earlier this month, the CBK trimmed its benchmark lending rate by 25 basis points to 9.5%, citing room to support economic activity, as detailed by Reuters.