off-the-wire

UPDATE 1-Kenya's inflation rises to 9.2% yr/yr in February as food prices rise

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds details, background) NAIROBI, Feb 28 (Reuters) - Kenya's inflation rose to 9.2% year-on-year in February from 9.0% a month earlier, the statistics office said on Tuesday, largely driven by food and transport prices. February's inflation rate has broken three consecutive months when the rate fell. It rose to 9.6% in October, its highest level since May 2017. February's rate is still above the government's preferred range of 2.5% to 7.5%.


On a monthly basis, inflation was 0.6% compared with 0.2% in January, the Kenya National Bureau of Statistics said in a statement.


In January, the central bank held its benchmark lending rate steady at 8.75%, saying its rate hike in November was still working its way through the economy.
(Reporting by George Obulutsa; Editing by James Macharia Chege)

george.obulutsa.thomsonreuters.com@reuters.net))
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