Kenya inflation rises in Jan but still on target

NAIROBI: Kenya's year-on-year inflation rate rose for the first time in 13 months to 3.67 percent in January from 3.20 percent in December, the national statistics office said on Thursday.

It said the increase was broad-based.

The rate was still well within the government's medium-term target of 5 percent, plus or minus two percentage points.

The central bank began cutting the country's high interest rates after inflation tumbled from a Nov. 2011 peak of just under 20 percent.

The policy lending rate now stands at 9.5 percent.