Monday, January 23, 2023 – Central Bank of Kenya Governor, Dr. Patrick Njoroge, has said the cost of living will start to fall from March this year.
Speaking in Davos, Switzerland, during the ongoing World Economic Forum, Dr. Njoroge said CBK predicts inflation to fall within its target range of 7.5% by March 2023.
This he said will mean that Kenyans could start buying basic household items and other goods at normal market prices as inflation slows.
“We are not comfortable with where it is now but are comfortable that it is coming down, and we expect it to be in our target range sometime this quarter,” Njoroge said
Njoroge noted the slight drop in prices reported in every sector, including a drop in fuel prices
“The prospects are good for various reasons, including that the price of oil has been coming down,” he said.
The CBK boss further said he expects Kenya’s economy to rebound by 6.2% during the same period under review.
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