Rising Commodity Prices Suggest Worse Times Ahead

By Lynnet Okumu / Published June 22, 2022 | 11:57 am

KEY POINTS

According to the Kenya National Bureau of Statistics, this is the highest reading since February 2020, as the cost of food products continued to rise sharply at 12.4 percent compared to 12.2 percent in April 2022, partly due to the war in Ukraine

KEY TAKEAWAYS

With increased food prices, shortages, and an already hike in fuel prices in an election year full of politics, Kenyans should prepare for a further rise in the food bills.

Many Kenyans are still struggling to put food on the table as their monthly budget narrows daily due to the increased commodity prices.

It’s now a norm that each day you go to your favourite shop, restaurant, or supermarket; the price is up by a certain amount—even more than double.

You don’t need to ask why because you already know the cost of commodities is rising, and every business is trying to adjust to avoid making losses.

Comparing commodity prices in April 2022 shows how rapidly the prices have increased in just three months.

The table below shows the prices of commodities in April 2022 as compared to the current prices in Kenya.

Commodity	April	June	Change in Price
Cooking Oil 1L	411	440	29
Maize Flour 2Kg	135	210	75
Wheat Flour 2Kg	177	201	24
Sugar2Kg	245	260	15
Potatoes Irish 1Kg	100	120	20
Milk 500g	60	65	5
Bread 400g	60	65	5
Pearl Pishori Rice 2Kg	269	275	6
Kale Sukuma Wiki	70	70
Tomatoes 1Kg	310	310.15	0.15
Onions 1Kg	130	135	5
Salt 1Kg	20	33	13
Cabbage 1Kg	60	98.04	38.04
Kerosene/Paraffin 1L	113.44	127.94	14.5
Bar Soap 800g	175	230	55
Ariel Washing Powder 500g	175	219	44

The annual inflation rate in Kenya accelerated to 7.1 percent in May of 2022, from 6.47 percent in April 2022.

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With increased food prices, shortages, and an already hike in fuel prices in an election year full of politics, Kenyans should prepare for a further rise in the food bills.

World Bank projections in February show that Kenya’s economy will grow by 5 percent in 2022. Beyond these headline figures, Kenyans want to feel the growth on a personal level. Kenyans want a break from the chocking food prices.