Consumer prices shoot through the roof as govts increase taxes
Kenya’s debt repayment obligations are expected to cross the Ksh1 trillion ($9.3 billion) mark, putting pressure on the taxman to collect each and every cent from individuals and firms. PHOTO | FILE | NMG
The cost of living in the East African countries is on a worrying upward trend with governments shifting huge debt repayments burdens to households and businesses through increased taxation measures.
The issue is further compounded by a surge in fuel prices and weaker local currencies, which have seen the prices of essential commodities like bread, milk, wheat flour, beef, tomatoes, greengrams and fruits in countries such as Kenya, Rwanda, Tanzania and Uganda sky rocket, according to data from national bureaus of statistics.
