Kenya’s annual inflation rate increased marginally to 3.0% in December, up from 2.8% recorded in November, according to the Kenya National Bureau of Statistics (KNBS).
On a monthly basis, inflation rose by 0.6%, compared to 0.3% in the previous month.
The Kenyan government maintains an inflation target range of 2.5% to 7.5% over the medium term.
Earlier in December, the Central Bank of Kenya made an unexpected move by cutting its benchmark lending rate by 75 basis points to 11.25%. The bank cited controlled inflation and the need for accommodative monetary policy to bolster economic growth.
