Kenya's inflation dips for second straight month

for Tv47 Digital December 30, 2022, 08:42 PM
Kenya's inflation dips for second straight month
A trader waters fruits at her grocery stall amid the coronavirus disease (COVID-19) spread, in Eastleigh district of Nairobi, Kenya June 17, 2020. REUTERS/Thomas Mukoya

Kenya's inflation dipped to 9.1% year-on-year in December, down from 9.5% a month earlier, the statistics office said on Friday, easing for the second month in a row on lower food and fuel prices.

Inflation peaked at 9.6% in October, the highest level since May 2017.

Last month Kenya's central bank raised its benchmark lending rate (KECBIR=ECI) by half a point to 8.75%, saying there was scope for more tightening due to sustained inflation.

Inflation in December was driven by the increase in prices of food and non-alcoholic beverages, transport, housing, water, electricity, gas and other fuels, the statistics office said.

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