Inflation in Kenya rises in February

28/02/2011 - Kenya property & investment news Posted by Neil King
Inflation in Kenya rises in February
Inflation in Kenya climbed for the fourth consecutive month during February, with the rise spurred by fuel costs.

The rate climbed to 6.5 per cent from 5.4 per cent the month earlier, the Nairobi-based Kenya National Bureau of Statistics said in a statement.

Added to this, the Bureau revealed that prices in the country also rose by 1.3 per cent over the course of the month.

In order to meet its inflation target of five per cent, the Kenyan government may be tempted to leave the key interest rate at 5.75 per cent, the lowest since it was introduced in June 2006, following eight reductions since December 2008.

Meanwhile, the news comes after it was revealed that lending levels within Kenya have risen considerably over the course of 2010.

Figures from the country's NIC Bank show that full-year profits for 2010 were 71 per cent higher than those recorded in 2009.ADNFCR-2019-ID-800432521-ADNFCR