Beer, Spirits Tax Hike Hits Diageo Kenya Unit's Half-Year Profit.

Inflation in Kenya averaged 7.7% in 2022, the fastest pace of consumer-price growth in five years, according to the nation's statistics office, pointing to homes having less disposable income available for non-essential spending. (Bloomberg) -- Diageo Plc's Kenyan unit's first-half profit declined after the government increased taxes on its key products, dampening demand in a market already reeling from inflationary pressures. [Extracted from the article]