November 29, 2019 / 9:44 AM / 10 days ago

UPDATE 1-Kenya's annual inflation rises to 5.56% in November

(Adds details, background)

NAIROBI, Nov 29 (Reuters) - Kenya’s annual inflation jumped in November as the price of food and alcoholic drinks rose, the statistics office said on Friday.

Inflation rose to 5.56% in November from 4.95% a month earlier and was up 0.40% month-on-month from 0.28% in October, the Kenya National Bureau of Statistics said in a statement.

The food and non-alcoholic beverages index rose to 9.58% compared with October.

KNBS said the alcoholic beverages, tobacco and narcotics index hit 7.53% from a month earlier.

Kenya’s central bank cut its benchmark lending rate for the first time in more than a year on Monday, saying tightening fiscal policy had provided room to ease in an effort to bolster an economy operating below its potential. (Reporting by Clement Uwiringiyimana; Editing by Andrew Heavens and Mark Potter)

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