Inflation rate in Kenya
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Inflation rate in Kenya
The inflation rate in Kenya has fluctuated over the years, with periods of high inflation followed by periods of lower inflation. In the early 2000s, Kenya experienced a period of high inflation, with an average annual inflation rate of around 10%. This was primarily due to a combination of factors, including high food and fuel prices, as well as a depreciation of the Kenyan shilling against the US dollar.
However, starting from around 2007, the inflation rate in Kenya began to decline, and by 2009, it had dropped to a low of around 3%. This was largely due to the implementation of monetary policy measures by the Central Bank of Kenya, such as raising interest rates and tightening credit conditions.
In 2010, the inflation rate in Kenya began to rise again, reaching a high of around 18% in 2011. This was due to a number of factors, including high food and fuel prices, as well as supply-side disruptions caused by drought and political instability.
However, since 2012, the inflation rate in Kenya has remained relatively stable, averaging around 7%. This is primarily due to the implementation of monetary policy measures by the Central Bank of Kenya, such as maintaining high interest rates and implementing inflation targeting.
Overall, the inflation rate in Kenya has been affected by a number of factors over the years, including food and fuel prices, exchange rate fluctuations, and supply-side disruptions. However, monetary policy measures implemented by the Central Bank of Kenya have played a significant role in controlling inflation and maintaining stability in the economy.
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Inflation rate in Kenya
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