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).
Russia's largest oil producer state-controlled Rosneft has acquired 30% in the largest natural gas field in the Mediterranean from Italian Eni, the company announced on October 9. Rosneft that ... more
South Africa's national oil company PetroSA and Rosgeo, the geological exploration company of the Russian Federation, have signed an agreement on a $400mn oil and gas development project in South ... more
South Africa’s MTN said it has agreed, on a non-binding and preliminary basis, to invest an initial $350mn into Iranian fixed broadband provider Iranian Net. The investment will give ... more