Inflation rises to 4.95 per cent in October as food prices go up

Kenya’s year-on-year inflation hit 4.95 per cent in October from 3.83 per cent in September, according to Kenya National Bureau of Statistics (KNBS).

Food and non-alcoholic beverages index rose by 0.48 per cent compared with September and was up 8.74 per cent compared with October 2018. The index carries a 36.04 per cent weight in the basket of goods used to measure inflation.

KNBS said the alcoholic beverages, tobacco and narcotics index rose 1.97 per cent from a month earlier.

On a monthly basis, inflation was 0.28 per cent from -0.11 per cent in September, KNBS said in a statement.

Policymakers left the benchmark lending rate at 9.0 per cent in September for the seventh straight meeting, saying inflation expectations were well-anchored.