Economics
Surging Grain Prices Keep Kenyan Inflation at Five-Year High
- Annual inflation quickened to 8.5% from 8.3% in July
- Inflation has breached the central bank’s ceiling since June
A vendor walks by bags of beans and pulses for sale at Toi market in Nairobi, Kenya.
Photographer: Patrick Meinhardt/BloombergThis article is for subscribers only.
Kenyan inflation accelerated for a sixth successive month in August as price pressures from a prolonged drought persist and a slump in the shilling raised the cost of imported goods.
Consumer prices rose 8.5% from a year earlier, compared with 8.3% in July, the Kenya National Bureau of Statistics said in an emailed statement Wednesday. That matched the median of four economists’ estimates in a Bloomberg survey.