CBK warns of tough times ahead due to high fuel prices

According to EPRA, the new prices were inclusive of eight per cent value-added tax. [Courtesy]

Central Bank of Kenya (CBK) has said that high food and fuel prices, and taxes will continue to put pressure on livelihoods.

In a statement yesterday, CBK’s Monetary Policy Committee (MPC), the bank’s highest decision-making organ, noted that the overall increase in prices of goods and services has largely spiked due to a jump in the cost of fuel and food.