Kenya’s inflation rate ticked up to 7.21% y/y in January from 7.15% a month earlier due to high transport and food prices, data from the Kenya National Bureau of Statistics showed.
The prices of food and non-alcoholic beverages, which have the largest weight in the CPI basket at 36.04%, rose 10.14% y/y in January, marginally retreating from a 10.41% increase in December.
The prices of housing, water, electricity, gas and other fuels, which account for 18.3% of the total consumer price index (CPI), rose 4.82% y/y, decelerating from 5.02% annual growth in December. Transport prices, which have an 8.66% weight, rose 1.95% m/m in January, sending the annual growth to 6.77% y/y from 5.37% y/y in the previous month. This was due to higher prices of petrol, diesel, parking charges and public transport fares.
Kenya’s monthly headline inflation rate quickened to 1.08% in January from 0.5% in December, with food prices increasing 1.0% m/m (+0.55% in December) and housing, water, electricity, gas and other fuels prices growing 0.87% (+0.01% in December).
US-based oil and gas exploration and production (E&P) company Kosmos Energy has announced the start of commercial operations at the Greater Tortue Ahmeyim (GTA) liquefied natural gas (LNG) ... more
South Africa’s state-owned power utility Eskom is exploring opportunities to support Bitcoin mining, artificial intelligence (AI) development, and data centres to help its future ... more
Nigeria’s Economic and Financial Crimes Commission (EFCC) has arrested a former CFO of the Nigerian National Petroleum Co. Ltd (NNPCL), as well as a former managing director of 125,000 barrels per ... more