Kenya Sees 6.67 Percent Rise in Inflation

Kenya Sees 6.67 Percent Rise in Inflation

From Reuters

Kenya’s inflation rate increased to 6.67 percent in the year to August from 6.02 percent a month earlier, the statistics office said on Friday, a rise which had been expected because of higher fuel prices and a new VAT law.

Inflation has roughly remained within the government’s preferred medium-term range of 5 to 7 percent since August last year.

The central bank kept its key rate at 8.50 percent in July to allow previous cuts to filter through the economy. The next meeting of the monetary policy committee is on Sept. 3.

Read more at reuters.com