By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Newsunplug KenyaNewsunplug KenyaNewsunplug Kenya
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Reading: Inflation holds steady at 9.2 percent in March
Share
Notification Show More
Font ResizerAa
Newsunplug KenyaNewsunplug Kenya
Font ResizerAa
  • News
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
  • News
    • Metro
    • Politics
    • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Tech
  • Spotify
Have an existing account? Sign In
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Newsunplug Kenya > Blog > Business > Inflation holds steady at 9.2 percent in March
Business

Inflation holds steady at 9.2 percent in March

hallanaija
Last updated: March 31, 2023 8:44 pm
hallanaija
2 years ago
Share
inflation
SHARE

Inflation in March held steady at 9.2 percent, helped by a drop in the prices of onions and tomatoes after rains towards the end of the month.

Data from the Kenya National Bureau of Statistics (KNBS) shows that while cooking oil also recorded a drop in prices, overall, food costs rose by 13.6 percent this month compared to March 2022.

The inflation rate — a measure of the cost of living over the last 12 months — remains above the Central Bank of Kenya (CBK) target of between 2.5 and 7.5 percent.

On Wednesday, the CBK increased its lending rate to 9.5 percent from 8.75 percent, citing sustained inflationary pressures, the elevated global risks and their potential impact on the domestic economy.

inflation

High prices in the economy have been aggravated by drought, a depreciating shilling and the war in Ukraine that has disrupted global supply chains and driven up costs of key raw materials like fuel.

Food usually has the biggest impact on the overall movement in prices because it accounts for nearly a third of the shopping basket for Kenyan families.

READ MORE  The Cost Of Diesel And Kerosene Decreases By Ksh 2 While Petrol Price Remains Same

Transport costs remained elevated due increases in prices of petroleum products by 12.6 percent in the review period, while those of housing, water, electricity, gas and other fuels as well as household maintenance, rose by 7.5 percent.

Prices of alcoholic beverages increased by 8.7 percent, insurance and financial services (6.5 percent), recreation, sport and culture (6.2 percent), and clothing and footwear by three percent.

President William Ruto, who took power in September last year partly on a campaign platform of easing the cost of living for the majority of poor households, has ruled out short-term fixes, dropping subsidies on unga and super petrol, and instead opted to subsidise fertiliser.

EAC Delegation Visits ECOWAS Commission On A Benchmarking Mission
Reduce waste to reap the benefits of budget reduction, the government instructed
Worker killed As Goons Invade Meru Tycoon’s Home, Destroy Sh50m Property
Stronger dollar to cost Kenyans at the pump
Money from Kenyans abroad dips for first time in 13 years
Share This Article
Facebook Email Print
Previous Article IFMIS Treasury misses revenue target by Sh67b, reveals PS
Next Article European Kenya Signs KES 50 Billion Deal with European Commission to Build Electric Bus Rapid Lane
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about us

We influence 20 million users and is the number one business and technology news network on the planet.

Recent Posts

  • ‘Let him play for 15 years first’ – Guardiola replies those choosing Yamal Messi
  • Telegram founder questioned in France over alleged illegal content on app
  • Two suspected robbers lynched by mob in Kondele, Kisumu
  • One dead, two police officers injured as protests erupt at Kakuma refugee camp
  • Trump sets 10 to 12-day deadline for Russia to end Ukraine war

Recent Comments

No comments to show.
Newsunplug KenyaNewsunplug Kenya
© Newsunplug Kenya. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?