The high cost of living in Kenya reflected by a rise in inflation was a rallying cry in the run-up to the 2022 General Election and partly contributed to the recent Gen Z demonstrations.

Two years later, however, prices have come down. Is there anything to celebrate? What is bringing down inflation? Who should take credit for the fall in inflation?  It’s a confluence of several factors.  

Briefly, inflation goes up when there is too much money chasing too few goods, according to the law of supply and demand.