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Kenya Inflation February 2024

Kenya: Inflation drops to near two-year low in February

Inflation dropped to 6.3% in February, following January’s 6.9%. February’s result marked the weakest inflation rate since March 2022. The moderation was chiefly driven by slower growth in prices for food and non-alcoholic beverages, and housing and utilities. That said, prices pressures for transport accelerated.

Accordingly, the trend pointed down, with annual average inflation ticking down to a 16-month low of 7.3% in February (January: 7.5%).

Finally, consumer prices rose 0.14% in February over the previous month, below January’s 0.44% rise. February’s result marked the weakest reading since August 2023.

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