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Kenya’s inflation rises in August, driven by food, transport prices - REUTERS
NAIROBI, Aug 29 (Reuters) – Kenya’s inflation rose to 4.5% year-on-year in August from 4.1% the previous month, largely driven by higher prices of food and transport, the statistics office said on Friday.
Monthly inflation was at 0.3% in August, compared with 0.1% a month earlier, the Kenya National Bureau of Statistics said in a statement.
The central bank targets inflation within the 2.5% to 7.5% range in the medium term.
Earlier in August, the bank cut its benchmark lending rate by 25 basis points to 9.50%, saying there was room to ease monetary policy further as inflation remains well within target.
(Reporting by George Obulutsa and Sfundo Parakozov in Johannesburg; Editing by Aidan Lewis and Tomasz Janowski)
