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Kenya Inflation Quickens as War in Ukraine Pushes Up Wheat Costs

  • Consumer prices rose 5.6% from year ago; median estimate 5.5%
  • Absa forecasts central bank to hike rates from third quarter
Customers browse fresh produce on sale at Toi market in Nairobi, Kenya.

Customers browse fresh produce on sale at Toi market in Nairobi, Kenya.

Photographer: Patrick Meinhardt/Bloomberg

Kenya’s inflation quickened in March stoked by higher food prices such as wheat due to the war in Ukraine, reversing a five-month easing trend.

Consumer prices rose 5.6% from a year earlier, compared with 5.1% in February, Kenya National Bureau of Statistics said Thursday in an emailed statement. The median estimate of six economists in a Bloomberg survey was 5.5%. Prices rose 0.9% in the month.