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Africa Business News of Saturday, 29 February 2020

Source: businessdailyafrica.com

Inflation stood at 6.37pc in February, highest in 10 months

Tomatoes on sale at Muthurwa Market in Nairobi on February 12, 2020 Tomatoes on sale at Muthurwa Market in Nairobi on February 12, 2020

Kenya’s inflation jumped to a 10-month high in February, largely driven by increased food prices.

Inflation – a measure of changes in the cost of living year-on-year – climbed to 6.37 percent from 5.78 percent a month earlier, the Kenya National Bureau of Statistics (KNBS) said.

This is the highest growth since 6.58 percent in April 2019.

“The increase in inflation was driven by increase in prices of several food items outweighing decrease registered in respect of others,” the KNBS said in a statement.

The cost of food and non-alcoholic drinks went up by 2.61 percent on average between February and January, and 10.58 percent compared with a year ago, the KNBS data shows.