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Browsing: Global inflation outlook
- Kenya’s high-interest rates hit 13 per cent in the last review by the Central Bank of Kenya.
- Since mid-2023, however, the World Bank’s index of commodity prices has remained essentially unchanged.
- World Bank reiterates that between mid-2022 and mid-2023, global commodity prices plummeted by nearly 40 per cent.
Kenyan consumers will have to bear the high cost of borrowing for much longer as Central Banks will not loosen their monetary policies any time soon, the World Bank has said.
The lender says the continued tightening will be a result of the prevalent global economic shocks, such as the Middle East conflict, which is threatening to halt the inflationary decline that has occurred in the past two years.
…“Global commodity prices are leveling off after a steep descent that played a decisive role in whittling down overall inflation last year,” the World Bank says in its latest commodity markets outlook. “However,