Sharp Daily
No Result
View All Result
Tuesday, August 26, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Rising Food And Gas Costs Push Kenya’s Inflation Up To 9.2%

Dennis Otsieno by Dennis Otsieno
March 1, 2023
in News
Reading Time: 2 mins read
Inflation

Inflation [Photo/Courtesy]

Kenya’s annual rate of inflation for the month of February 2023 remained elevated rising by 0.2% points to 9.2% compared to 9.0% in January 2023.

The inflation rate has broken the steady decline that has been witnessed for the last three consecutive months when the rate fell from a 9.6% peak in October 2023 to 9.0% in January. The rate is still above the government’s target range of 2.5% to 7.5%.

The elevated annual inflation was mainly due to an increase in prices of commodities under food and non-alcoholic beverages (13.3 %); housing, water, electricity, gas, and other fuels (7.6 %); and transport (12.9 %) between February 2022 and February 2023.

The Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households, increased by 0.6% to 130.1 in February 2023 from an index of 129.3 in January 2023.

RELATEDPOSTS

Why firms are shedding jobs despite survival

June 19, 2025

Opinion: Austerity wrong medicine for Kenya’s economy.

June 16, 2025

Read: Kenya’s High Cost Of Living-Demystifying The Puzzle

The Central Bank of Kenya, primarily tasked with stabilizing prices, last month kept its key lending rate at 8.75% similar to what was recorded in November 2022 as the effects of the hiked rates were yet to be fully felt in the economy. The decision followed a 175-basis point hike on the central bank rate to 8.75% in 2022 in a bid to anchor the inflation within the CBK’s range.

Increasing the key policy lending rate makes borrowing more expensive, and this is expected to reduce spending by businesses and families with the ultimate goal of lowering the prices of goods and services that have plagued the economy this year.

The high inflation is mainly on the back of high fuel prices following the scaling down of the fuel subsidy and increased electricity prices due to high tariffs. Since fuel and electricity represent major inputs in most businesses, we expect the high prices to continue elevating the cost of production and consequently leading to high commodity prices.

As such, citizens should prepare for the continued high cost of living which will be exacerbated by the ongoing drought. Conversely, government securities will also lag as inflation lowers the present value of their future cash flow to potential investors leading to higher yields.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

President William Ruto Declares Irene Masit’s IEBC Post Vacant

Next Post

Ruto’s Cabinet Seeks To Transform Debt Ceiling

Dennis Otsieno

Dennis Otsieno

Related Posts

News

Kick financial goals: Invest with CMMF this football season

August 22, 2025
commercial illustrator
News

Why Kenyan private equity firms should consider continuation funds as an exit strategy

July 23, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
News

Private vs Public Pension Funds in Kenya

June 30, 2025
Investments

Investor shift to long term bonds drives oversubscription in CBK’s reopened auction

June 19, 2025
News

The real price of Israel – Iran Conflict for Kenya.

June 19, 2025

LATEST STORIES

Bank on your paycheck: Invest smart with CMMF

August 26, 2025

Finding Balance: My Journey with Internet Self-Care

August 22, 2025

Why Young Kenyans Cannot Afford to Ignore Private Pensions

August 22, 2025

Strategies for Nairobi to emerge as Africa’s financial hub

August 22, 2025

Understanding NSSF and the Two-Tier Contribution System

August 22, 2025

Kick financial goals: Invest with CMMF this football season

August 22, 2025

AI and the future of investment research

August 22, 2025

Why private credit gaining traction in emerging markets

August 21, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024