Reply to thread

Message: [QUOTE="Nehanda, post: 27318, member: 2262"] Kenya's money chief, John Mbadi, reports good news for shoppers - prices keep falling for basic needs like electricity, gas, milk, sugar, and flour. The only thing that costs more these days is cooking oil, which jumped 5 percent from last February to February this year. Prices went from 333 shillings to 350 shillings per liter. Looking at the big picture, Mbadi says inflation dropped to 3.5 percent compared to 6.3 percent last year. This means prices climbed much slower than before. Mbadi believes this trend signals economic recovery and offers real relief for people trying to make ends meet. Among the 330 products tracked by the government, kerosene prices fell the most dramatically, while tent rentals saw the biggest price increase. People across Kenya experienced these price drops no matter where they lived. The government checked prices in the Central, Coast, Northeastern, and Nyanza regions. Sugar costs tumbled between 19 and 25 percent, depending on location. The biggest drop happened in the Northeastern region, where prices fell almost 52 shillings from last year. Kerosene prices dropped over 20 percent everywhere. The Coast region saw the largest kerosene price reduction - nearly 42 shillings cheaper than last February. The government tracks these numbers through the Consumer Price Index, which measures how everyday prices change over time. Mbadi credits several government actions, including subsidies, smart money policies, and efforts to stabilize the Kenyan shilling, for these improvements. The exchange rate grew stronger, moving from about 161 shillings per dollar to around 129 shillings. Kenya's Central Bank responded by cutting interest rates from 13 percent last August to 10.75 percent this February. They also lowered reserve requirements for banks to 3.25 percent. These changes helped banks offer cheaper loans. Government programs boosted farm production through fertilizer and seed subsidies. Maize harvests jumped to 95 million bags last year, up from 61 million bags the year before. Sugar production also increased substantially, helping both farmers and consumers with better prices. The stronger shilling directly lowered costs for imported fuel and electricity. The Hustler Fund celebrated its second birthday last year after lending 60 billion shillings to regular Kenyans. This program helped people avoid predatory lenders. The government also expanded its Inua Jamii program, sending 3.52 billion shillings to help 1.76 million struggling households last month. [/QUOTE]

Name