An employe restocks the dairy products section at a supermarket in Nairobi

Kenya's inflation edges up to 5.58 pct in November

NAIROBI (Reuters) - Kenya's annual inflation inched up to 5.58 percent in November from 5.53 percent a month earlier, the statistics office said on Friday.

On a monthly basis, inflation was -0.18 percent. The central bank said on Tuesday that inflation was well anchored and it expected it to remain in the government's preferred band of 2.5-7.5 percent.

The bank attributed that forecast to lower prices of food locally and the falling price of crude oil abroad.

The central bank has cut its benchmark rate twice this year to stimulate lending to businesses.

(Reporting by Omar Mohammed and Duncan Miriri; Editing by Raissa Kasolowsky)

2018-11-30 14:27:10

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