Browsing: Cost of food

• The Monetary Policy Committee (MPC) on Wednesday noted the sustained inflationary pressures, the elevated global risks and their potential impact on the domestic economy.
• CBK sees a scope for a further tightening of the monetary policy in order to anchor inflation expectations.
• Overall inflation in Kenya increased to 9.2 percent in February 2023 from 9.0 percent in January, mainly driven by higher food prices.

The Central Bank of Kenya (CBK) has revised upwards the benchmark rate by 75.0 basis points to 9.50 per cent, in its latest move to try and tame the rising inflation in the country.

This is up from 8.75, signaling a higher cost of borrowing in the market.

Its decision making organ–the Monetary Policy Committee (MPC) on Wednesday noted the sustained inflationary pressures, the elevated global risks and their potential impact on the domestic economy, and concluded that there was scope for a further tightening of …