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{
    "id": 51827,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/51827/?format=api",
    "text_counter": 219,
    "type": "speech",
    "speaker_name": "Mr. Raila",
    "speaker_title": "The Prime Minister",
    "speaker": {
        "id": 195,
        "legal_name": "Raila Amolo Odinga",
        "slug": "raila-odinga"
    },
    "content": "Mr. Speaker, Sir, Kenyans are experiencing a very sharp rise in the cost of living. The high cost of petroleum has ignited a spiral effect. Until recently, the national rate of inflation stood at 3 per cent. It has increased to 9 per cent. Increased food prices are responsible for 60 per cent of the total inflation. Local prices have risen sharply largely due to the emerging drought. Globally, surging demand in growing economies like China, India and Brazil, severe drought in China, massive floods in America and Australia, tsunami and earthquakes in Japan and increased use of maize to produce ethanol have raised food prices. The international price of crude oil has been rising due to high economic growth in China, India and Brazil, as well as the current turmoil in North Africa and parts of the Middle East. It has risen from US$73 per barrel in July 2010 to US$115 per barrel in April this year."
}