Costly food prices push Kenya inflation at 10-year high of 9.2%

Costly food prices push Kenya inflation at 10-year high of 9.2%

Inflation in Kenya hit 9.2 percent all-time high in September owing to high cost of food and fuel.

It is a new high for the ten-year period from 8.5 percent in August this year.

Food and non-alcoholic beverages prices rose by 15.5 percent in the month from a year ago compared with 15.3 percent in August.

Transport and energy costs rose by 10.2 and 7.3 percent across the same period.

Bus fares between Nairobi’s Central Business District (CBD) and Uthiru for instance rose by 25 percent to Ksh.50 from Ksh.40 previously as petrol, diesel, and kerosene costs spiked by 12.6, 17.7 and 14.6 percent respectively on September 14.

Last time inflation was this high was in 2012 when the rate hit a recorded 9.3 percent.

The Central Bank of Kenya (CBK) Thursday reviewed upward  the becnmark lending rate by three quarter to a percentage point at 8.25 percent over inflation fears.

The move was factored in to slam breaks on soaring food prices and to ease pressure on the shilling that has continued to weaken against the dollar.

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Lawrence Baraza is a prolific writer with competencies in Digital Media, Print, and Broadcast. Baraza is also a Communication Practitioner currently spearheading Digital content on Metropol TV's Digital Desk.

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