Diaspora remittances from the United States have fallen by a monthly average of three percent this year, reflecting the sharp cost of living in the world’s largest economy which has cut the disposable income available to Kenyans for support of relatives back home.
A Central Bank of Kenya (CBK) breakdown of remittances by source country shows that inflows from the US fell to $183.4 million (Sh21.9 billion) from $221.5 million (Sh26.5 billion) in December 2021.
