Kenya’s Inflation Increases to 3.5% Year-on-Year in February 2023

Kenya’s consumer inflation rose to 3.5% year-on-year in February, up from 3.3% in January, according to the statistics office. This increase may affect consumer purchasing power and reflect overarching economic conditions.

According to the statistics office, Kenya’s consumer inflation increased to 3.5% year-on-year in February, up from 3.3% recorded in the previous month. This rise in inflation is indicative of the ongoing economic conditions and may influence monetary policies moving forward. The increment was reported on Friday, reflecting the country’s current inflationary trends.

This rise in inflation is significant as it impacts consumer purchasing power and could lead to increased costs of living for Kenyans. Analysts will likely monitor these changes closely as they can have broader implications for economic stability in the region.

In summary, Kenya’s inflation rate reached 3.5% year-on-year in February, a slight increase from the previous month’s rate of 3.3%. This trend highlights potential challenges for the economy and consumers, as increased inflation could lead to higher living costs.

Original Source: www.marketscreener.com