The International Monetary Fund (IMF) has warned that rising global oil prices, exacerbated by Middle East tensions, could significantly worsen the cost of living in Kenya and other oil-importing African nations.

• The IMF projects global headline inflation to rise from 4.1% in 2025 to 4.7% in 2026, driven by energy and food costs.
• Key organizations involved include the IMF, World Bank Group, and World Trade Organisation.
• This warning comes ahead of the Energy and Petroleum Regulatory Authority (EPRA) monthly fuel price review on July 14, with global benchmark Brent crude already exceeding $76 per barrel.