Tenacious Headline Consumer Inflation

Headline consumer prices are on an uptrend in Kenya, registering 13.8% y-o-y in September, up from 11.5% y-o-y in August. Rising food and fuel prices are central culprits behind the acceleration. Price growth in the 'food and non-alcoholic drink' category inched up from 15.6% y-o-y in August to 20% y-o-y in September. While oil prices appear to be - at least temporarily - easing and few expect a near-term reversal to the zenith reached this summer, the food component is subject to unpredictable weather forces.

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