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Consumer fears mount over rising cost of living
beiyangu
#1 Posted : Tuesday, January 03, 2012 11:27:01 AM
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Joined: 7/11/2011
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Most Kenyans expect the cost of living to worsen in 2012 despite the recovery of the shilling and good rains that have left policy makers projecting rosier times, a survey done by Ipsos-Synovate shows.

In the survey conducted in eight provinces using a sample of 2,000 respondents, 67 per cent said the cost of living would worsen with only 17 per cent remaining optimistic that inflation would fall. The others said they did not know what would happen.

“The proportion of people worried by the soaring cost of living has risen from 33 per cent in April 2011 to 77 per cent,” said the market research firm in a statement.

The pollster said the poor economic conditions experienced in 2011, evidenced by soaring fuel prices and ever-increasing prices of basic commodities, have made Kenyans pessimistic about prospects for the new year.

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