Raw material costs rose twice as fast as consumer inflation last year in the wake of Russia’s war in Ukraine, a weakening shilling and the worst drought in 40 years.
The producer price index (PPI), which tracks the prices businesses receive for their goods and services, rose to an average of 15 percent last year from 7.4 percent in 2021 and 0.14 percent during the peak of Covid-19 economic hardships in 2020, says the Kenya National Bureau of Statistics (KNBS).
