{"id":97127,"date":"2023-07-05T16:41:57","date_gmt":"2023-07-05T16:41:57","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in"},"modified":"2023-07-05T17:07:43","modified_gmt":"2023-07-05T17:07:43","slug":"a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in","title":{"rendered":"A slice of bread now at Sh5 as effects of hiked fuel prices kick in"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>A slice of bread is now retailing for close to Sh6 as manufacturers and service providers pass the hiked fuel price bill to consumers. A bread maker, Broadways on Wednesday published revised prices, pushing up the cost of 400 grammes to Sh65 from Sh58.<\/p>\n

“The prices are effective July 1,” Broadways said in a newspaper notice.<\/p>\n

This is attributed to hiked fuel prices as a result of double Value Added Tax (VAT). A litre of super petrol is now going for around Sh195 after the tax was pushed from eight to 16 per cent. This saw a litre of super petrol rise by 13.49, diesel by Sh12.39 and Kerosene by Sh11.96 in Nairobi.<\/p>\n

Although the court halted the implementation of the Finance Act, 2023 which contains raised taxes, the Energy and Petroleum Regulatory Authority (EPRA), on June 30, adjusted fuel prices to reflect 16 per cent VAT.<\/p>\n

Besides bread, an increase in fuel prices has triggered an upward price revision in many other basic goods and services, further pushing up the cost of living for already cash-strapped consumers.<\/p>\n

On Tuesday, the Matatu Owners Association announced plans to increase bus fares by at least 30 per cent following the hike in fuel prices. On Tuesday, MOA chairman Albert Karakacha while addressing the press said the adjustments will cushion the investors in the transport sector.<\/p>\n

\u201cThere has been a sharp increase in fuel prices and other expenses… We consulted before arriving at a 30 per cent hike,\u201d he said.<\/p>\n

Passengers moving from Nairobi estates to the Central Business District (CBD) will pay an additional Sh10 or Sh20 in the new changes. Motorcycle operators have also added Sh20 per trip within Nairobi estates and Sh50 in CBD, Upper Hill and Westlands.<\/p>\n

A supermarket attendant at Naivas, Mountain Mall along Thika Super Highway told this writer of a wider plan to adjust all commodities upwards as new stock arrives.<\/p>\n

“Just carry an extra Sh10 for every commodity you are planning to buy starting next week. Too many price promotions are underway to clear the old stock,” he said, pledging anonymity as he is not authorised to talk on behalf of the firm.<\/p>\n

Other commodities and services that have already witnessed price review include barbershops and drinking water. The rise in the price of basic goods and services is likely to send inflation to the roof after rising marginally in May to settle at eight per cent.<\/p>\n

Yesterday, Stanbic Bank warned that the effects of the Finance Act, of 2023 will likely push further the country’s inflation to almost double digits. “This is likely to weigh on the economy. Notably, firms have an improved outlook for the next 12 months, albeit remaining below average,” Madula, an economist at Standard Bank said.<\/p>\n

The government has put several measures in place to put breaks on the soaring inflation. Early last week, the apex bank raised the anchor lending rate by 100 basis points with the hope of putting breaks on the high cost of living.<\/p>\n

The regulator lifted the Central Bank Rate by one percentage point at the surprise Monetary Policy Committee (MPC) meeting on Monday to 10.5 per cent from 9.5 per cent, setting the benchmark lending rate at the highest level since July of 2016 or an 82-month high.<\/p>\n

Higher interest rates mean consumers will spend more to service their loans. Besides bank borrowers, the higher rates will also hit ordinary consumers in the form of more expensive goods on the shelves.<\/p>\n

Consumer watch bodies have asked consumers to tighten belts for tougher times ahead even as the country awaits the court’s directions in regards to the Finance Act, 2023.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. A slice of bread is now retailing for close to Sh6 as manufacturers and service providers pass the hiked fuel price bill to consumers. A bread maker, Broadways on Wednesday published revised prices, pushing up the cost of 400 grammes to Sh65 from Sh58. “The prices are effective July 1,” Broadways said […]<\/p>\n","protected":false},"author":84,"featured_media":97126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-97127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nA slice of bread now at Sh5 as effects of hiked fuel prices kick in - kenya<\/title>\n<meta name=\"description\" content=\"A slice of bread is now retailing for close to Sh6 as manufacturers and service providers pass the hiked fuel price bill ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A slice of bread now at Sh5 as effects of hiked fuel prices kick in\" \/>\n<meta property=\"og:description\" content=\"A slice of bread is now retailing for close to Sh6 as manufacturers and service providers pass the hiked fuel price bill ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-05T16:41:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-05T17:07:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/07\/sm_1688560530.574915.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"671\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"A slice of bread now at Sh5 as effects of hiked fuel prices kick in\",\"datePublished\":\"2023-07-05T16:41:57+00:00\",\"dateModified\":\"2023-07-05T17:07:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in\"},\"wordCount\":618,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2023\/07\/sm_1688560530.574915.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/a-slice-of-bread-now-at-sh5-as-effects-of-hiked-fuel-prices-kick-in\",\"name\":\"A slice of bread now at Sh5 as effects of hiked fuel prices kick in - 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