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Inflation in October drops to 5.7pc, lowest in 17 months

The food and non-alcoholic index dropped by 1.78 per cent between September and October 2017 while year-on-year food inflation dropped by 8.7 percent August/FILE

NAIROBI, Kenya, Oct 31 – Inflation in October has dropped to 5.72 percent compared to last month’s 7.06 per cent, the lowest since June 2016.

The Kenya National Bureau of Statistics attributes the drop to the decline in several food items which was mainly attributed to the favorable weather conditions.

The food and non-alcoholic index dropped by 1.78 per cent between September and October 2017 while year-on-year food inflation dropped by 8.7 percent August.

The transport index rose by 0.86 per cent due to an increase in pump prices of Petrol and diesel.

The 5.72 percent is within the Government’s target range of 2.5pc – 7pc.

Analysts at Cytonn Investments predict Inflationary pressures are expected to ease in the last two months of 2017, but average 8.4 percent over the course of the year, which is above the upper bound of the government target range of 2.5 percent – 7.5 percent.

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