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Updated · Bloomberg · May 22Kenya Warns of Tougher Economy as Iran War Drives Up Energy Prices
2 articles · Updated · Bloomberg · May 22
- Musalia Mudavadi told Kenyans to brace for tougher economic conditions as fallout from the US-Israeli war on Iran hits the country.
- Higher energy prices are expected to feed broad inflation, raising costs for transport and manufacturers across the economy.
- Those cost pressures could also threaten jobs, extending the impact beyond fuel bills to household incomes and business activity.
As energy prices soar, is a global food crisis the war's next devastating front? Is the global economic chaos a justifiable price for containing Iran's nuclear ambitions? With the Strait of Hormuz closed, could Africa become the new lifeline for global trade?