The consumer price index (CPI) released by the National Bureau of Statistics (NBS) Tuesday shows the headline inflation slowed for the fourth consecutive month in July from a year-on-year (YoY) growth of 17.75 per cent reported in June to 17.38 per cent.

The CPI measures the changes in prices of goods and services over time using a weighted average.

July’s headline inflation rate is 0.37 percentage points lower than the rate reported in June, showing that the inflation rate increased at a slower speed.

The month-on-month inflation rate stood at 0.93 per cent against 1.06 per cent recorded the previous month, according to the NBS data.

The core inflation, which measures others but the less volatile item (food), was 13.72 per cent YoY while the food segment remained extremely high at 21.03 per cent. This puts the differential between core and food inflation at 7.31 per cent.

The country’s headline inflation has increased consistently for three years until the April breather when it decelerated from 18.17 per cent to 18.12 per cent. Since then, the growth has remained downward, according to data supplied by NBS.

A Chinese firm has allegedly demanded billions of shillings in pending bills that Kenya borrowed to build the modern railway line from Mombasa to Nairobi.

Africa Star Railway Operation Company Ltd (Afristar), the Chinese company contracted to run the train service, was said to have listed clearing of its debts as a condition before fully transferring operations of standard gauge railway (SGR) to Kenya in May next year.

Parliament last year revealed that Kenya had not paid Sh38 billion to Afristar, which is majority-owned by China Road and Bridge Corporation (CRBC) and was contracted in May 2017 to run the passenger and cargo trains on the SGR.

KRC chairman Omudho Awitta stated “The negotiations between KRC and Afristar commenced in the year 2019 and an agreement has been reached that KRC (Kenya Railways Corporation) takes over obviously with some conditions including clearing of any outstanding payments,”

The billions of shillings in pending bills add to the Sh 420 billion that Kenya borrowed to build the modern line from Mombasa to Nairobi and for the purchase of engines and coaches.

Apple Inc. and Affirm Holdings Inc.’s PayBright are planning to launch a “buy now, pay later” program for Apple device purchases in Canada, stepping up the iPhone maker’s ambitions to offer more financial services.

The companies plan to debut the initiative this month at Apple’s online and physical retail stores in Canada, according to a message sent to Apple retail employees in the region, which was obtained by Bloomberg News. The service will let iPhone, Mac, and iPad buyers in Canada pay for purchases over 12 or 24 months instead of in-full at the time of the transaction. Apple told staff it will offer the program interest-free for a limited time after the launch.

This will become Apple’s first installment program in Canada in several years. Apple has offered a buy now, pay later system for Apple purchases via its Apple Card credit card with Goldman Sachs Group Inc. in the U.S. since last year, but the card isn’t available internationally. Apple has also long offered monthly iPhone payment plans in some countries.