Inflation in Kenya fell once again in November to 4.73%, hitting its lowest level since May 2009 and well below the Central Bank’s target range of 5% +/-2.5%.
According to official data, inflation has been steadily dropping month-on-month since May this year when it touched a five year high of11.7%. The Consumer Price Index, a key measure of inflation decreased by 0.23 per cent from 182.50 in October to 182.08 in November 2017.
The stats office said the decline was mainly because of the drop in food prices.
“Food and Non-Alcoholic Drinks’ Index decreased by 1.33 per cent mainly due to favourable weather conditions which led to fall in the cost of several food items. During the same review period; Housing, Water, Electricity, Gas and Other Fuels’ Index, increased by 1.74 per cent.” KNBS noted.
