Kenyan inflation slows to 16.7pct

NAIROBI: Kenya's consumer price index dropped 0.04 percent in February from a month earlier, slowing the year-on-year rate of inflation to a lower-than-expected 16.69 percent, official data showed on Wednesday.

The consensus forecast in a Reuters poll of analysts was for inflation to slow to 17.48 percent from 18.31 percent in January. The inflation rate in east Africa's biggest economy is the lowest since August 2011, when it stood at 16.67 percent.

Food prices fell 0.30 percent in February from a month earlier while transport costs dropped 0.91 percent. All the other components of the consumer price basket rose during the month with restaurants and hotels posting a 1.20 percent rise.

Copyright Reuters, 2012