Kenya’s inflation rises to 7.3% as cost of living continues to bite

Kenyan households are facing increased financial pressure after the country’s annual inflation rate rose to 7.3 per cent in October, its highest level in more than three years.

The latest figures released by the Kenya National Bureau of Statistics (KNBS) on Friday show an increase from 6.8 per cent recorded in September.

The rise has largely been driven by increasing prices of food, transport and housing-related expenses.

Food and non-alcoholic beverages recorded a 10.2 per cent increase over the year, while transport costs rose by 17.1 per cent.

The rising cost of essential commodities is placing additional pressure on families, particularly low-income earners who spend a significant portion of their income on basic necessities.

The development also raises concerns about the purchasing power of consumers and the ability of households to meet their daily financial obligations.