Kenya is still reeling from the impact of the pandemic but now faces a rise in oil prices increasing costs of production, transport and a knock-on effect on all other goods. PHOTO | COURTESY
Kenyan households are facing financial distress after prices of essential commodities skyrocketed in the face of surging inflationary pressure, weakening shilling and rising temperatures ahead of the August 8 General Election.
Analysts at AZA Finance, said high inflation from rising global commodity prices has weighed heavily on the local currency which dropped to a fresh low of Ksh114.55($1) against the dollar last week from Ksh114.33 the previous week.
