Kenya’s inflation leaps to five-year high on rising food costs
A maize depot in Eldoret, in Kenya's Rift Valley. Kenya's inflation has risen to a high of 10.28 per cent in March, 2017, a rate last seen in May 2012. The rise is as a result of higher food prices mainly maize flour. PHOTO | FILE
Kenya’s inflation has risen to a high of 10.28 per cent in March, a rate last seen in May 2012. The rise is as a result of higher food prices due to an ongoing drought that has left close to three million people in the country in need of aid.
The inflation has moved further outside the Central Bank of Kenya's (CBK) preferred ceiling of between 2.5 per cent and 7.5 per cent, just as Treasury, in its 2017/18 draft budget announced taxation policies to rein in the rising cost of maize floor.
