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.

Monitor Your Business Transaction

Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.
Back to top button