Kenya’s year-on-year inflation rate rose marginally to 2.8% in November, up from 2.7% in October, according to the Kenya National Bureau of Statistics (KNBS). On a monthly basis, inflation also increased slightly to 0.3%, compared to 0.2% the previous month, the KNBS reported on Friday.
The country’s inflation remains within the government’s target range of 2.5% to 7.5% for the medium term, providing some stability for economic planning and policy.
The Central Bank of Kenya is set to announce its latest benchmark lending rate decision on December 5, 2024. This comes after the bank reduced its rate in October to 12.00%, down from 12.75%, aiming to stimulate economic activity.
The marginal rise in inflation will likely be a key consideration for the bank as it balances economic growth with price stability in its upcoming monetary policy decision.
