Inflation Hits A 6.47% As Food Prices Increase- KNBS Reports

Inflation rose to a four-year high to 6.47 per cent up from 5.4 per cent the previous year.This is according to a report released by the Kenya National Bureau of Statistics (KNBS) Economic Survey 2022 on Thursday. The high cost of living is attributed due to the increase in fuel and food prices.

The economy expanded by 10.1 percent in the second quarter last year before falling to 9.9 percent in the third quarter, according to the quarterly gross domestic product reports of the KNBS.

The report also indicated that the country recorded a 7.5 per cent GDP growth rate, projecting that macroeconomic environment to remain stable despite the likelihood of a rise in inflation, weakening of the Kenyan Shilling against its major trading currencies and significant rise in energy prices.

While this can be seen as the Country is growing economically, Kenyans are feeling the high cost of living. While food prices go up. Most Kenyans remain unemployed and those working get minimum salaries. Most Kenyans live bellow the one dollar wage a day and can only afford a meal a day.