Central Banks in both developed and emerging economies are raising their benchmark lending rates amidst the high cost of living due to soaring inflation rates.
The lending rates have a considerable impact on the economy for consumers and businesses from both spectrums.
The recent country to revise
Inflation in Kenya for the month of May jumped to 7.1 percent from 6.4 percent in April pointing out the high cost of living among Kenyans.
In a report by the Kenya National Bureau of Statistics (KNBS), the 7.1 percent inflation was due to the high
Inflation in Kenya for the month of March soared to 5.6 percent down from 5.1 percent in February to indicate a high cost of living.
This was backed by a rise in the price of food, housing, water, fuel, gas, electricity and transportation cost.
According to the
The Kenyan Shilling has retained its vulnerability against the United States Dollar at a low of 114.8 units, signaling a crisis in commodity prices.
On Tuesday, the shilling slumped further against the dollar to trade at Ksh.114.82, down from Ksh.114.7 on Monday.
This has been fueled by
Kenya risks higher inflation of flour prices following the significant increase in maize prices, a move that is threatening the country’s economy, putting millions of households in a dire state amidst the COVID-19 pandemic.
The cost of a two kilograms packet of maize flour is now
The cost of living in November eased significantly to a seven-month low when the inflation rate dropped to 5.80 percent against the October rate which stood at 6.6.45 percent.
This signals a low cost of living in the country due to the recently witnessed state mitigation
The cost of living for the month of October eased slightly
when inflation rate dropped to 6.45 percent against September rate at 6.91
This is anchored on recent intervention by the government to
lower the cost of fuel.
According to the Kenya National Bureau of Statistics (KNBS),
the transport index
The Inflation rate for August 2021 went up to 6.57 percent compared to 6.55 percent recorded in July, 2021, according to the Kenya National Bureau of Statistics (KNBS).
The Inflation rate for August 2021 went up to 6.57 percent
compared to 6.55 percent recorded in July, 2021,