The Kenyan economic crisis is worsening by the day even as a majority of households continue struggling for a living. Economists say the country is headed for even tougher times.
A record-high price tag on basic commodities such as sugar, rice, milk, cooking oil, and bread indicates a collapsing economy.
Kenyan economic crisis 2024
Small-scale traders and farmers are decrying high expenses ranging from fuel costs to import customs.
A survey released by the Agricultural Sector in the Central Bank of Kenya reveals an upward trend in matters of inflation.
As such, wholesaler and retail prices are expected to remain at the ceiling for several months.
While tensed government priorities are partly to blame, long rains between March and May contributed greatly to the ongoing fallout.
Delayed disbursement of funds to countries, ministries, and schools is also alarming.
According to the Kenya National Bureau of Statistics, inflation is largely because of increased input costs. KNBS say inflation increased to 8% in May, up from 7.9% in April.
Uncertainties run high because the Kenyan economic crisis may last longer than expected.
