Lets cushion Kenyans from looming inflation

After a short period of relative calm in the economic front, things are looking gloomy.

Gasoline, diesel, and kerosene, all derived from crude oil, whose price continues to soar, threatens the stability enjoyed over the last two months.

This emerging trend is fuelled by the conflicts in parts of the oil producing countries — Nigeria, South Sudan, Sudan, and Middle East countries.

On Saturday, the Energy Regulatory Commission (ERC) raised the prices of diesel, petrol, and kerosene renewing fears of high inflation in the coming months. The price of super petrol in Nairobi rose by Sh6.81 per litre to Sh118.50, and that of diesel by Sh3.67 to 108.80 shillings. Kerosene prices in Nairobi went up by Sh2.14 a litre to Sh86.28. The new prices come into effect today and remain a major cause of worry to consumers who of late have been hard hit by rising cost of living.

The price hike unveiled by the regulatory body certainly endangers the relative stability of the macro-economic factors that has translated in a resurgent of economic activities. Another round of turbulence could be in the offing and that government efforts to achieve equilibrium could be eroded by these external factors.

Besides, as we approach elections and the announcement by weathermen that we might not get sufficient rains during this long rains period shows we are in a dicey situation. All the indications point at economic slowdown and require us to tighten our belts as the country goes through this trying economic times.

Already things are tight and will get tighter. It is time policy makers and Government officials cushioned the citizens from the looming inflation.

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