Kenyans have been warned to brace for an increase in food prices starting February this year. A new report by the Central Bank of Kenya (CBK) has indicated that the prices of grains and other food products will continue to rise for the second month in a row.
The report, which was released on Tuesday, February 11, highlights that Kenyans should expect higher prices for kale, traditional vegetables, cabbages, spinach, tomatoes, potatoes, sugar, and cooking oil.
The price increase has been attributed to poor rainfall during the short rainy season between October and December last year. The lack of sufficient rain led to drought in some areas, which caused crops to wilt and reduced the overall food supply.
This situation has now translated into increased prices in markets across the country as demand exceeds supply. Farmers who were interviewed in the CBK study confirmed that their yields were significantly lower than expected, making it difficult to meet market demand.
Another factor influencing the price hike is the rise in global oil prices. This has been caused by tensions in the Middle East, which have disrupted supply chains and driven up transportation costs.
Since fuel is a major component in food production and distribution, the increase in oil prices has resulted in higher costs of getting food to the market.
As a result, prices for essential processed foods such as sugar, cooking fat, and vegetable oil are also expected to go up.
The report warns that these global market fluctuations will continue to have a direct effect on local food prices.The CBK study further notes that the unusual rise in food prices is likely to push inflation higher in the coming months.
Higher inflation means that the cost of living will continue to rise, making life harder for ordinary Kenyans. Many households are already struggling with the high cost of living, and this new wave of price increases is expected to put more pressure on their budgets.
The Kenya National Bureau of Statistics (KNBS) had also recently released a report predicting that eight essential commodities would see price hikes in the near future.
However, there is a glimmer of hope as the country heads into the long rainy season. The forecast for March and April predicts favorable rainfall, which could improve overall farm productivity.
Additionally, government efforts such as the provision of subsidized fertilizer are expected to help farmers increase their yields.
These interventions could eventually lead to a drop in food prices in the coming months, offering relief to consumers.
For now, Kenyans will have to deal with the harsh reality of rising food prices as the effects of last year’s poor rainfall and global market changes continue to be felt.
