Kenya’s overall inflation rate rose to 6.31 percent in March from 5.61 percent in the previous month due to drought in the East African nation, the national statistics bureau said in a statement received on Tuesday.

Inflation
Inflation

The Kenya National Bureau of Statistics (KNBS) attributed the rise due to increases in the cost of vegetables, milk and other food products.
“The rise in prices was mainly as a result of dry weather conditions experienced during the period,” the bureau said in the statement released in Nairobi. It, however, said prices of sugar, maize flour and other food items dropped during the period under review.
According to the bureau, between February and March, food and non-alcoholic drinks’ index increased by 2.65 percent. Housing, water, electricity, gas and other fuels’ index eased by 0.05 percent despite significant falls in the cost of electricity and cooking gas, which have been declining in the past four months. And the transport index decreased by 0.33 percent largely due to drop in public transport fares, which outweighed the increase in the prices of diesel and petrol.
The East African nation’s overall inflation has remained within the government target range, which the Central Bank of Kenya noted, has continued to support macroeconomic stability.
The month-on-month non-food-non-fuel inflation declined from 3. 65 percent to 3.43 percent during the period, indicating that there were no significant demand-driven inflationary threats to the economy.
The exchange rate of the Kenya shilling against the U.S. dollar maintained its stable trend despite volatility in the global foreign exchange markets. Enditem

Source: Xinhua

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