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Rising Commodity Prices Suggest Worse Times Ahead

BY Lynnet Okumu · June 22, 2022 11:06 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.

ALSO READ: KRA Staff to Start Wearing Cameras in a Bid to Curb Corruption

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

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.

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