Economy

Inflation falls to 4.7pc in Jan on reduced transport costs

fuel

Kenya’s annual inflation fell in January, helped by falling transport prices. FILE PHOTO | NMG

Kenya’s annual inflation fell in January, helped by falling transport prices, the statistics office said on Thursday.

The Kenya National Bureau of Statistics said in a statement inflation fell to 4.7 percent year-on-year in January from 5.7 percent in December, while month-on-month, inflation was 0.35 percent.

It said the transport index fell by 1.43 percent compared with December, helped by lower fuel prices.

On Monday, the central bank held its benchmark lending rate at 9.0 percent, saying inflation was anchored within the target range.

The government preferred band for inflation is between 2.5 and 7.5 percent in the medium term.