Why there is need to talk about the high cost of living

During the last general elections, state of the economy was a key campaign tool.

JOSEPH KANGOGO

KEVIN ODHIAMBO EDITOR

ANDY MARANGA

JACKSON SANGEA

Every presidential candidate had a vision to better the economy and make it affordable to all and sundry. However, 8 months down the line, Kenyans are waking up to a disappointing truth that there is hard work ahead towards addressing the living cost.

According to the Kenya national bureau of statistics, the annual inflation rate in Kenya dropped to a ten-month low of 7.9% in April 2023, from 9.2% in the prior month and below market estimates of 9%.

The slowdown was mainly attributed to a softer rise in prices of food & non-alcoholic beverages (10.1% vs. 13.4% in March), as the cost of some items such as spinach and onions declined. At the same time, transportation prices eased (9.8% vs. 12.9%), amid stable gasoline prices. On a monthly basis, consumer prices increased by 0.5% in April, after a 0.8% rise in the prior month.

We need as Kenyans to smell the coffee, hold a candid discussion with our focus being on taking practical steps towards addressing this issue.

First, we must understand that the government requires resources to be able to budget and run the country successfully. Our discussion needs to capture grants, loans and taxes as the main sources of revenue that the government relies on in fixing the economy whether in short or in long term.

There is need to explain to an ordinary Kenyan why taxes are rising and what is the short term and the long term effect to the economy.

As we do so, we must accept the reality that turning changing the situation is likely to be a bit longer and will require joint effort between the government and its citizens