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Kenya’s inflation rate rose for the first time in four months to 9.2% in February due to increased pressure on food and cooking gas prices. Household spending on food rose by 13.3% YoY, with vegetables being the main contributor due to a prolonged drought affecting production. The cost of transportation remained flat MoM, but increased by 12.9% YoY. President William Ruto has ruled out short-term fixes to ease the cost of living, and the Central Bank of Kenya has kept its key lending rate unchanged to stabilise prices. The government has recently announced measures to allow limited duty-free imports on specific food items to ease domestic inflationary pressures.
