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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Kenyan inflation rises to year high on fuel tax

NAIROBI (Xinhua) -- Kenya’s inflation surged 1.66 percent in September as the effects of recently imposed taxes started to bite.

The rate of inflation rose to 5.70 percent, up from 4.04 percent in August, the government’s statistics agency said Friday.

It is the first time since October 2017 that inflation has risen above 5 percent, according to the Kenya National Bureau of Statistics (KNBS).

The rise was mainly attributed to the more than doubling of the transport index from 7.99 percent in August to 17.29 percent, according to the KNBS.

Similarly, the electricity index rose from 0.47 percent to 17.44 percent. The new tax imposed on fuel products pushed the cost of kerosene to 1 U.S. dollar while petrol is retailing at 1.2 dollars and diesel 1.15 dollars.

Analysts noted inflation will continue to rise in coming months following imposition of taxes on financial services and pesticides, among others, as the government seeks to shore up its revenue.

             

 

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