Kenya’s inflation edges up to 2.8% year on year in November

NAIROBI (Reuters) – Kenya’s inflation edged up to 2.8% year-on-year in November, from 2.7% a month earlier, the statistics office said on Friday.

On a monthly basis, inflation was 0.3% compared with 0.2% in October, the Kenya National Bureau of Statistics said in a statement.

Kenya targets an inflation rate of between 2.5% and 7.5% in the medium term.

The central bank is due to announce its latest benchmark lending rate decision on Dec. 5. In October, the bank cut its rate to 12.00% from 12.75%.