Inflation rises in Kenya
Headline inflation in Kenya rose to 5.3 per cent in December, with prices rising by 0.3 per cent compared with November.Headline inflation in Kenya rose to 5.3 per cent in December, with prices rising by 0.3 per cent compared with November.
The information - released by the National Bureau of Statistics - revealed that the cost of alcoholic drinks and tobacco was up during the month.
Robert Bunyi, Managing Director of Mavuno Securities, is quoted by Bloomberg as saying: "An uptick in inflation isn't anything to be bothered about as prices are relatively low and the shilling is stable."
The statistics showed that prices for alcohol and tobacco went up by 2.4 per cent during December, while clothes increased by 1.4 per cent.
Recently, the country has implemented a new calculation method for measuring inflation trends.
According to a recent World Bank report on Kenya's economy, the nation has overcome a number of crises – such as the 2008 election violence and the recent drought - but still underachieves in relation to its potential.