NAIROBI (Reuters) - Kenya’s inflation slowed to 5.72 percent year-on-year in October to its lowest level in 17 months, driven by a fall in prices among food items, the statistics office said on Tuesday.
The rate, which stood at 7.06 percent a month earlier, had shot outside of the government’s preferred band of 2.5-7.5 percent earlier in the year due to a severe drought.
Month on month, inflation was -0.63 percent, the Kenya National Bureau of Statistics said in a statement. Inflation for food and non-alcoholic beverages was -1.78 percent during the month. The category has a 36.04 percent weight in the goods used to calculate inflation.
Reporting by George Obulutsa; Editing by Duncan Miriri and Raissa Kasolowsky