If you have been wondering why the price of basic commodities, such as beans, has continually been on a sharp spike at your local market, you are not alone.
The Kenya National Bureau of Statistics (KNBS), in retail price estimation released on Monday, July 31, indicated that beans recorded the highest increase in price (a figure that stood at 32.7 per cent) between July 2022 and July 2023.
It was followed by Onions (22,2 per cent), Peas (13.9 per cent), potatoes (9.1 per cent), and Carrots (8.1 per cent).
Others were Oranges (7.7 per cent), fresh flavoured packeted milk (6.6 per cent), Cabbages (6.5 per cent), Cowpeas and (4.9 per cent).
The price change comes within President William Ruto's first 10 months in office and shortly before the Finance Act 2023, which introduces a raft of new taxes, is set to be implemented.
During the same period, electricity (50 kilowatts) was the non-food item that recorded the highest retail price increase of 65.7 per cent followed by electricity (200 kilowatts) at 46.6 per cent and matatu fares at 40 per cent.
Others were kerosene at 32.1 per cent, diesel (28 per cent), petrol (22.1) per cent and house rent (1.8 per cent).
Cooking gas, however, recorded a price drop of 10.1 per cent as per KNBS alongside wheat fluor (0.3 per cent), Spinach (6.7 percent) and tomatoes (9.8 per cent).
KNBS further noted that between June 2023 and July 2023, inflation had dropped by 0.6 per cent and stood at 7.3 per cent.
In the monthly retail price deviations, onions recorded the highest increase at 11.4 per cent while all the other goods including fresh flavoured packeted milk, wheat flour and beans recorded a drop of 1.1 per cent, 1.6 per cent and 1.6 per cent respectively.
Fuel, which categorises petrol, diesel and kerosene, was among the products most affected by the implementation of the Finance Act 2023.
At the beginning of July, Kenyans were forced to dig deeper into their pockets after Value Added Tax on fuel doubled from 8 per cent to 16 per cent.
The development subsequently pushed the price to Ksh194.68 for super petrol, Ksh179.67 for diesel and Ksh169.48 for kerosene. A spike in fuel was poised to push other goods and prices up.
