Inflation: the weather-beaten consumer
By Evelyn Situma
The move by central bank to tame inflation has turned out to be unproductive after all.
According to critics, the attempt to stabilize Forex trading and save the home currency from further decline is yet to be felt by consumers.
Greeted with much expectation, the effort has only managed to regain the shilling potency against major currency. Saving it from a shameful downward move that saw it listed as the worst performing in the world. Although trading at stable rate of 101 to the green back, Kenyans are still waiting to see its effect in an already battered economy.
The cost of living has continuously shot up with not even the price control bill accented by the president, bringing reprieve. In the face of unrealistic commodity pricing, consumers have had to fore-go “the not a must” items on their shopping list. Making do with what they consider to be the most essential.
But what actually is the case of consumers like Jane Wanjiru, who already are on a shoe string budget? “I cannot afford to miss out on any item. Everything on my list is essential. For 10 years now, I have lived without the so called luxury goods. The only way to cut down on my expenditure is to have two meals a day, as opposed to three. Even though I have taken up this measure, as a nursing mother, my newborn is starving to death. I guess I will soon have medical bills to foot,” she says.
She is not alone, Allan Onyango is a bitter a man. He seems not to understand why fuel prices have taken an upward trend, even with the energy regulatory commission (E.R.C) in place.
ERC was constituted by an act of parliament to cushion consumers on escalating fuel prices. To everyone’s surprise, it has only worsened the situation. Just this month, in its monthly retail price guide, fuel cost was revised upwards once again.
“I use kerosene for fuel. Last month the government promised to cushion consumers like me by Zero rating the product. But to adjust the price upward! In addition, I cannot afford to buy anything. My shopping list has only 7 items down from 15. I have resolved to use sawdust for fuel. This way I can shop for these items,” he explains.
Allan Shopping List
· Unga- 115
· Bar Soap-105
· Petroleum jelly- 65
· Tooth paste-75
· Sugar- 300
· Tea leaves- 80
· Shoe polish -120
It is indeed sickening that Wanjiku continues to suffer. Though in a reconciled mood, they are calling on the government to find practical solutions to save its population. All with the hope that pardon will come sooner than later-bringing a sign of relief to a populace that has already sacrificed enough for solidity of its economy.
By Evelyn Situma
The move by central bank to tame inflation has turned out to be unproductive after all.
According to critics, the attempt to stabilize Forex trading and save the home currency from further decline is yet to be felt by consumers.
Greeted with much expectation, the effort has only managed to regain the shilling potency against major currency. Saving it from a shameful downward move that saw it listed as the worst performing in the world. Although trading at stable rate of 101 to the green back, Kenyans are still waiting to see its effect in an already battered economy.
The cost of living has continuously shot up with not even the price control bill accented by the president, bringing reprieve. In the face of unrealistic commodity pricing, consumers have had to fore-go “the not a must” items on their shopping list. Making do with what they consider to be the most essential.
But what actually is the case of consumers like Jane Wanjiru, who already are on a shoe string budget? “I cannot afford to miss out on any item. Everything on my list is essential. For 10 years now, I have lived without the so called luxury goods. The only way to cut down on my expenditure is to have two meals a day, as opposed to three. Even though I have taken up this measure, as a nursing mother, my newborn is starving to death. I guess I will soon have medical bills to foot,” she says.
She is not alone, Allan Onyango is a bitter a man. He seems not to understand why fuel prices have taken an upward trend, even with the energy regulatory commission (E.R.C) in place.
ERC was constituted by an act of parliament to cushion consumers on escalating fuel prices. To everyone’s surprise, it has only worsened the situation. Just this month, in its monthly retail price guide, fuel cost was revised upwards once again.
“I use kerosene for fuel. Last month the government promised to cushion consumers like me by Zero rating the product. But to adjust the price upward! In addition, I cannot afford to buy anything. My shopping list has only 7 items down from 15. I have resolved to use sawdust for fuel. This way I can shop for these items,” he explains.
Allan Shopping List
· Unga- 115
· Bar Soap-105
· Petroleum jelly- 65
· Tooth paste-75
· Sugar- 300
· Tea leaves- 80
· Shoe polish -120
It is indeed sickening that Wanjiku continues to suffer. Though in a reconciled mood, they are calling on the government to find practical solutions to save its population. All with the hope that pardon will come sooner than later-bringing a sign of relief to a populace that has already sacrificed enough for solidity of its economy.