Kenya raised minimum wages by 12% to help workers who saw household budgets squeeze out inflation, especially for basic food items such as cooking oil, according to Bloomberg.
Wage increases, with immediate effect, will help protect people’s purchasing power, President Uhuru Kenyatta said in a statement. He made the announcement during a speech in Nairobi on the occasion of Labor Day. The minimum wage has not been revised for more than three years, Kenyan said.
“There is an urgent need to review the minimum wage in order to protect our employees from further erosion of their purchasing power, while ensuring the competitiveness of our economy,” he said.
Kenya’s inflation rose more than expected in April, up 6.5% from a year earlier. The effects of the Russian invasion of Ukraine are fueling inflation in East Africa’s largest economy, with prices for vegetable oils, wheat, fertilizers and fuel soaring. The cost of food is a problem elsewhere in the world, with world record prices threatening to push more people into hunger.
Source: Capital
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