Rising costs hit Kenyan companies, consumer wallets

Kenyan shoppers face rising living costs as inflation drives up prices of essential goods. [iStockphoto]

Kenya’s private sector returned to growth in October as businesses received more orders. However, rising operating costs and pressure on consumers continue to weigh on the recovery, according to a business survey released on Wednesday.

The Stanbic Bank Kenya Purchasing Managers’ Index (PMI) rose to 52.5 in October from 51.3 in September, marking the second consecutive monthly increase and the highest reading this year.