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    1.0.32

    Pressure as Token Prices Rise by 16% in December Amidst High Cost of Living

    Leah
    By Leah Wakarima
    - December 16, 2022
    - December 16, 2022
    Kenya Business news
    Pressure as Token Prices Rise by 16% in December Amidst High Cost of Living

    The price of buying an electricity token has risen by 16.8 per cent in December, coming at a time when households are battling the high cost of food prices.

    Data from Kenya Power and Lighting Company (KPLC) shows that a KES 2,000 token unit cost dropped to 76.08 in December from 91.47 in August.

    High charges come after inflation in the month of November slowed to 9.5 per cent, according to the Kenya National Bureau of Statistics (KNBS).

    Kenyans took to social media to decry expensive power prices even as they struggle to afford basic needs such as food and shelter.

    “The overall year on year inflation rate as measured by the Consumer Price Index (CPI) was 9.5 per cent, in November 2022. The rise in inflation was mainly due to increase in prices of commodities under food and non-alcoholic beverages (15.4%); transport (11.7%) and housing, water, electricity, gas and other fuels (6.1%) between November 2021 and November 2022,” KNBS said earlier in its monthly report

    While prices of cabbages, potatoes (Irish), kales-sukumawiki and beans increased by 8.4, 6.9, 3.0 and 1.8 per cent, respectively, bills of cooking oil (salad), tomatoes and fortified maize flour dropped by 6.0, 2.2, and 1.0 per cent singly.

    “The Housing, Water, Electricity, Gas and Other Fuels’ Index, decreased by 0.4 per cent between October 2022 and November 2022. This was mainly due to a drop in prices of 50 Kilowatts electricity units, 200 Kilowatts electricity units, gas/LPG and kerosene by 4.7, 3.6, 2.6 and 0.7 per cent, respectively,” KNBS said.

    Read also; KPLC Blocks Third party Token Purchase.

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