Kenya Inflation Drops To 3.6%, Lowest In 12 Years

Kenya’s inflation (KECPI=ECI), fell to 3.6% year-on-year in September from 4.4% a month earlier, the statistics office said on Wednesday.

On a month-on-month basis inflation was at 0.2% from 0.0% a month earlier, the Kenya National Bureau of Statistics said in a statement.

The Kenyan government targets an inflation rate of between 2.5% and 7.5% in the medium term.

The central bank is due to announce its next interest rate decision on Oct. 8.

It cut its benchmark lending rate (KECBIR=ECI), opens new tab by 25 basis points in August, saying there was scope to ease policy gradually as inflation had fallen below the midpoint of its target range.