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Tycoon Says Corn Supply to Help Slow Kenya Inflation by December

  • Kenyan presidential aspirants have pledged to slow price gains
  • Economists see inflation slowing in third quarter of 2023
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Bidco Chairman Vimal Shah speaks to Bloomberg’s Jennifer Zabasajja in Nairobi, Kenya.Source: Bloomberg

Corn supplies in the next few months will help slow Kenya’s inflation, according to the chairman of one of the nation’s top edible-oil producers. That will be good news for the incoming president.

Inflation will likely slow by December because new supplies of the grain -- used to make ugali, a stiff porridge and staple food consumed by most Kenyans -- will damp price gains, Vimal Shah, chairman of Bidco Africa Ltd., said in an interview with Bloomberg TV. Outgoing President Uhuru Kenyatta capped prices of corn, also known as maize, ahead of the elections.