Posted 3/31/2024, 11:21:32 AM
Kenya Sees Inflation Drop to 2-Year Low as Food, Fuel, and Utilities Costs Ease
- Inflation fell to 5.7% in March, a 2-year low, due to declines in food, fuel, and electricity prices
- Food inflation rose 0.5% between February and March, but prices dropped for some items like maize flour and sugar
- Housing/utilities inflation up 0.2% in March vs February, though kerosene and electricity prices fell
- Transport inflation down 0.6% in March, driven by drops in petrol and diesel prices
- Kenyan shilling has strengthened nearly 19% vs US dollar over 2 months, which should further reduce import costs