Kenya: Inflation drops in February but remains within the Central Bank's target range
February 28, 2018
Consumer prices rose 1.36% over the previous month in February, marginally up from January’s 1.32% month-on-month increase. The print marks the biggest increase in prices since April 2017. Prices climbed in all 12 sub-categories of the index. A surge in prices for food and non-alcoholic beverages was the biggest contributor to the jump in prices, while recreation and culture saw the smallest upturn in prices.
Conversely, inflation dropped to 4.5% in February after rising to a five-month high of 4.8% in January. It therefore remained close to the mid-point of the Central Bank’s medium-term target range of 2.5%–7.5%. Annual average inflation mirrored January’s figure, coming in at 7.8%.
Author: Nihad Ahmed, Economist