Kenyan bank sees 5% in­fla­tion in 2018

The New Age (Gauteng) - - SPORT -

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. – Reuters

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