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Manufacturers raise prices by 9pc amid rising costs
Associated Vehicle Assemblers Ltd plant in Mitirini, Mombasa. Local assemblers of motor vehicles raised prices by an average of 7.4 percent. FILE PHOTO | NMG
Manufacturers raised the prices of their goods by an average of 9.1 percent in the year to December 2023 as they passed on to consumers the higher cost of doing business.
Data from the Kenya National Bureau of Statistics (KNBS) shows that during the period, manufacturers increased the cost of processed foods such as bread, flour and rice by an average of 2.01 percent and drinks by 8.39 percent.
