The price of food products may increase due to the expensive price of materials and fuel, the decrease in the level of production in the country, including the high cost of importing products into the country. Farmers have warned about the increase in the price of food such as sugar, bread, rice, cooking oil, and other products.
A study conducted by the Central Bank of Kenya (CBK) on the Agricultural Sector between May 9 and 12 indicates that the price of food products will continue to be expensive this month and will be at the heart of inflation.
The study assessed changes in wholesale and retail prices in the market, expectations for price changes and supplies as well as issues affecting the industry.
According to the report, the heavy rain season between March and May was the cause of falling prices of short-term crops such as vegetables.
However, the prices of certain types of rice, beans, potatoes, sugar and wheat remained high indicating that they are still suffering from the effects of a prolonged dry season in 2022, the study said.
“Egg prices may rise as well because chicken farming is highly dependent on feed sold in stores. Sugar prices have remained high and may rise even more due to the decrease in sugarcane and the high cost of importing the product into the country.”
Although the price of some food products such as vegetables fell in May, the price of other food products such as sugar went up where together with expensive electricity prices and transportation costs, contributed to the price inflation rising by 0.1 percent or 1.26 percent.
The rate of inflation reached 8 percent last month from 7.9 percent in April, according to the National Statistics Agency (KNBS), as families are burdened by rising commodity prices.
The costs of housing, water, electricity, gas, and other types of energy including transportation were affected by the increase in the price of petrol products while petrol, diesel, and kerosene products were sold for a total of Sh183.29, Sh1 6 9 . 1 0 and Sh161.83 per liter respectively, across the country.
The high price of sugar affected the figures for food and non-alcoholic beverages, which rose to 49.2 percent annually and 22.1 percent monthly, while one kilogram of sugar was sold for a total of Sh194.29 in May and from Sh159.10 in April.
By Hallan Emodia