One in every four Kenyans reported a drop in their income levels between January and December 2024, according to new findings by ICEA Lion Group.
The Fourth Quarter 2024 ILAM Consumer Spending Index shows 60 per cent of respondents indicated their income levels ended 2024 at the same level as 2023, while one-quarter of individuals surveyed ended the year with lower incomes compared to the beginning of the year.
This represented the highest proportion of flat income levels dominating income trends during the year.
"However, we also note that the proportion of individuals reporting lower incomes declined to the lowest levels witnessed during the year," 
The real estate and construction sectors had the largest proportion of respondents who had higher incomes compared to 2023 while the wholesale and retail sector had the biggest proportion of workers whose incomes declined during 2024.
This represented the second successive quarter when the trade sector has led to declining income trends
