High cost of living roils economies in East Africa
Activists demonstrate outside Kenya’s parliament in Nairobi on May 17, 2022 over steep rise in prices of food. East Africa’s economic managers face the daunting task of crafting new policies to tackle the recent inflationary spiral across the region. PHOTO | TONY KARUMBA | AFP
East Africa’s economic managers face the daunting task of crafting new policies to tackle the recent inflationary spiral across the region, fuelled by rising food and energy prices, which are eroding incomes and reversing gains in food security.
The cost of living across the region has drastically increased in recent months with the median inflation rate in the region now estimated at almost nine percent with some regional economies now suffering double-digit inflation.
