With politicians milking us dry from rampant corruption, and the government’s insatiable appetite to borrow from foreign investors, this country is slowly but steadily heading to the doldrums!
A report released by Central Bank of Kenya(CBK) indicates that 51% of Kenyans are living from hand to mouth.
This is a rise from 34.3% in 2016.
The rise in cost of living has forced many Kenyans to live from hand to mouth as they struggle to make ends meet.
The new report was released on Wednesday by CBK and Finacess Household Survey(FSD).
According to CBK acting director of research, Raphael Otieno, bad climate can also be blamed for inflation.
Otieno noted that a drop in agriculture activity has taken a toll on food production, leading to a rise in inflation.
”Kenyans continue to take a beating from a poor climatic condition that continues to take toll on food production. This stretched inflation during the period under review, forcing households to spend more on basic needs,” Otieno said.
The survey was conducted in 8,699 household across the coutry.
40% of the sampled house-holds were urban and 60% from the rural.