Kenya's inflation rose to 4.1% year-on-year in July
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Pedestrians walk past a cosmetic shop in downtown Nairobi, Kenya July 17, 2024. REUTERS/Thomas Mukoya/File Photo
NAIROBI (Reuters) -Kenya's consumer inflation rose to 4.1% year-on-year in July, compared to 3.8% the previous month, the statistics office said on Thursday.
Inflation was primarily driven by the rise in prices of items such as food and non-alcoholic beverages, transport, housing and utilities, the Kenya National Bureau of Statistics said in a statement.
Monthly inflation was at 0.1% in July, compared to 0.5% a month earlier, it said.
The central bank targets Kenya's inflation to be within the 2.5% to 7.5% range in the medium term.
Kenya's central bank will hold its next interest rate-setting meeting on August 12. The bank cut its rate by 25 basis points to 9.75% in June, saying it wanted to provide further support to the economy.
(Reporting by Hereward HollandEditing by Bate Felix)
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