Annual inflation up 27.6 pct in Aug

August 30, 2008

, NAIROBI, August 30 – Kenya\’s annual inflation rose to 27.6 percent in August compared to 26.5 percent in the previous month mainly due to rising fuel costs.

According to statistics from the Kenya National Bureau of Statistics released Friday the rise was driven by an increase in food and fuel prices which went up by 0.1 percent and 3.6 percent respectively.

Fuel prices were particularly driven by electricity and petroleum prices. This came after the Kenya Power and Lighting Company effected a 24 percent increase in its tariff.

The underlying inflation also went up from 12.2 percent to 13.1 percent during the same period.

The government has always maintained that the inflation rates will come down when supply constraints are addressed.
Experts have however predicted that the inflation rate is likely to remain at above 25 percent for the rest of the year.

They project that the rates will come down owing to measures the government has been undertaking to control the spiraling inflationary pressures.

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