Reported 12 months ago
Kenyan annual inflation reached a nearly four-year low in June, with consumer prices rising by 4.6% and marking the lowest rate since September 2020. This development may lead to a rate cut by monetary policymakers in August as they aim to bring inflation to the 5% midpoint. The drop in inflation offers relief to consumers amidst a cost-of-living crisis and recent protests against a tax bill, which was subsequently scrapped by President William Ruto. Food prices, a key component of inflation, are expected to decrease with government subsidies, while transportation and fuel costs have also shown a slight decline in June.
Source: YAHOO