Elections over the past have had great economic implications on Kenyans who are often forced to buy basic commodities at an increased price during the election period with this year’s election period being the worst of all.
According to government, the prices of commodities have increased owing to the global inflation levels with the country’s inflation level at a high of 7.9 in June according to statistics by the Kenya National Bureau of Statistics.
According to the Kenya National Bureau of Statistics, Kenya’s inflation rate increased more than anticipated and, for the first time in over five years, above the upper limit of the central bank’s target range, putting additional pressure on decision-makers to raise the benchmark interest rate.
For instance, according to the Market statistics, the prices of Basic domestic commodities in the country has increased even by double the price they used to retail.
For example, the price of a 2kg Unga packet that used to retail at a price of ksh. 100 is now retailing at over ksh. 200 even after the government has announced a subsidy to the commodity.
Additionally, according to market reports, most Kenyans cannot access the subsidized Unga with retailers saying that they have not yet received the subsidized Unga.
Just before the Unga crisis, Kenyans were battling the ever-increasing prices of fuel which affected the prices of other basic commodities making life hard for Kenyans.
With the current economic position of the country, Kenyans now are witnessing a rate of unemployment especially from the private sector because of the low return the sector gets and the quest by the sector to reduce on cost.
Further, the bad economic situation in the country is greatly worsened by the high borrowing the country has been witnessing.
This might be the worst but not the only time Kenyans find themselves at a bad economic position during the electioneering period with the big question remaining to be, does the political class influence the situation.