Kenyans should prepare for a major increase in the prices of several essential food commodities starting this February, according to a new report by the Central Bank of Kenya (CBK).
The Agriculture Sector Survey, released on Tuesday, February 11, revealed that the prices of cereals and related food products are expected to go up for the second month in a row.
The survey gathered data from various wholesale and retail markets, as well as selected farms across the country.
Besides cereals, the report also pointed to a likely increase in the prices of vegetables such as kale, cabbages, spinach, and traditional greens. Other food items expected to cost more include tomatoes, potatoes, sugar, and cooking oil.
Reasons Behind the Expected Price Hike
The rise in food prices has been attributed to several key factors. One of the main reasons is poor rainfall during the short rainy season between October and December last year.
The report indicated that the country experienced lower-than-usual rainfall, leading to dry conditions and crop failure in many regions. This resulted in reduced food production, which has now triggered a supply shortage.
Another factor contributing to the expected price increase is the rising cost of oil on the global market. The ongoing conflict in the Middle East has caused uncertainty in the international oil supply, leading to higher transportation and production costs.
Since many food products rely on fuel for processing and distribution, these costs are expected to be passed down to consumers.
Additionally, the report highlighted that global market trends are also playing a role in the rising food prices.
Some essential processed food items, such as sugar, cooking fat, and vegetable oil, have become more expensive worldwide. This increase in the international market is expected to have a direct impact on local prices in Kenya.
Impact on Inflation
With food prices going up, overall inflation in the country is also expected to rise. The report projected that the cost of living could increase over the next three months as consumers struggle with higher food expenses.
Some Relief Expected in the Coming Months
Despite the worrying increase in food prices, the CBK report also contained some positive news for consumers.
It noted that the prices of certain food items, including different varieties of rice and dairy products, could go down in the coming months.
Moreover, farm production is expected to improve in the near future. The report stated that Kenya is likely to receive good rainfall between March and April, which will boost agricultural output. This could lead to a gradual drop in food prices as supply increases.
The government’s subsidized fertilizer program is also expected to help farmers increase production. By making fertilizers more affordable, the government aims to support farmers in growing more food, which could ease food shortages and lower prices in the long run.
KNBS Report Also Predicts Price Increases
The CBK findings come just days after the Kenya National Bureau of Statistics (KNBS) released a separate report predicting a rise in the prices of eight essential commodities. This further confirms concerns that the cost of living is set to increase in the coming months.
While Kenyans brace for higher prices in the short term, government policies and improved weather conditions may provide some relief later in the year.
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