Kenyan bank sees 5% inflation in 2018
NAIROBI: Kenya’s central bank governor said yesterday he expects inflation of around 5% next year, less than half the rate it reached this year. Annual inflation shot to a five-year high of 11.7% in May, mainly because a regional drought in the first quarter drove up food prices. It dropped to 5.72% last month after rainfall improved food supplies. Kenya capped commercial lending rates a year ago at four percentage points above the central bank rate.