The Central Bank of Kenya (CBK) has revealed that five food products are expected to record a price decrease as Kenyans gear up for the Christmas and New Year festivities.
According to the Agricultural Survey November 2023 report, the price of maize flour, vegetables and processed milk are expected to drop.
Currently, the price of a 2 kg packet of maize flour is retailing at between Ksh150 to Ksh220, depending on the brand. A 500ml packet of milk, on the other hand, is currently retailing between Ksh50 to Ksh60.
The price of wheat flour is also expected to go down. Owing to this drop, CBK also projected that the price of bread would also shrink.
A 2kg packet of wheat flour is retailing at between Ksh190 and Ksh220.
"The Balance of Opinion points to a decline in the expected retail prices of maize products in December 2023 with the ongoing harvest in most parts of the country," read the report in part.
"The price of processed and unprocessed milk is on the decline on account of the increased pasture resulting from favourable," read the report in part.
On the other hand, the drop in vegetable items was attributed to the increased supply of fast-maturing crops that were planted during the short rainy season (October-December 2023).
Concerning cooking oil and sugar prices, CBK projected that the prices would remain moderate over the next 30 days as of production of the two items gains momentum across the globe.
As of December 13, 1 litre of cooking oil was retailing at Ksh300 while consumers are getting a 2kg packet of sugar of the shelf at between Ksh420 to Ksh450.
Food Items to Shoot Up
Meanwhile, some food items are expected to record a price increase during the festive season. The food items include include rice onions and tomatoes.
"The price of rice remains sticky due to reduced domestic production occasioned by high input costs, and an increase in the cost of importation of the commodity.
"Domestic prices of onions are also largely dictated by the production and pricing of onions from Tanzania; these tend to be relatively expensive due to their long shelf life and higher quality," read the report in part.
