Prepare for an increase in food prices in the coming months – CBK Governor KAMAU THUGGE warns Kenyans

Thursday, February 8, 2024 - Central Bank of Kenya (CBK) Governor, Kamau Thugge, has said Kenyans should brace themselves for elevated food prices again in the coming months.

Speaking on Wednesday during the Monetary Policy Committee (MPC) briefing, Thugge reported that overall inflation is expected to persist, with imported food prices expected to soar amid the weakening shilling.

Thugge further noted that the costs of fuel, non-food items, and non-fuel categories remained high in January.

"The survey of the agriculture sector conducted ahead of the MPC Meeting revealed that respondents expected inflation to increase in the next three months, on account of high import costs, partly due to the exchange rate depreciation," Kamau who chairs the MPC said.

Kenya's inflation rose to 6.9% in January, up from 6.6% in December 2023.

The Kenya National Bureau of Statistics (KNBS) revealed on Wednesday, that the inflation growth rate was the highest in four months.

The Kenyan DAILY POST.

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