Kenya’s inflation rate held steady at 4.6% year-on-year in October, unchanged from the previous month, according to the Kenya National Bureau of Statistics.
The month-on-month inflation rate was 0.2%, consistent with September’s rate.
The country’s inflation target range is between 2.5% and 7.5% in the medium term, and the current rate falls comfortably within this range.
The Central Bank of Kenya recently cut its benchmark lending rate to 9.25% from 9.50%, citing room for further easing of monetary policy given the inflation outlook, in a bid to stimulate economic activity by reducing borrowing costs.
