Advertise

Advertise

Families hit hard by price rise of basics

 

Local food makers increased product prices by 11.26 per cent over the 12 months to March 2022, squeezing consumers’ envelopes.

Data by the Kenya National Bureau of Statistics (KNBS) released yesterday shows food producer price indices – which tracks changes in the cost of goods directly from manufacturer’s warehouses – grew by 5.67 per cent between December 2021 and March this year, and 11.26 per cent in the year to March.

Manufacturers have been hit by a sharp rise in the cost of primary food imports like maize and wheat due to shortages in the global market made worse by hitches arising from the Russia-Ukraine war.

Kenya increased its reliance on food imports last year as local production of crops was muted by unreliable rains.

According to the Economic Survey 2022, maize production declined by 12.8 per cent from 42.1 million bags in 2020 to 36.7 million in 2021.

Bean and wheat production fell by 14 per cent and 39.4 per cent to stand at 7.4 million bags and 245,300 tonnes respectively in the same period.

This has seen a sharp rise in maize flour, bread and milk, whose shortage is attributed to a drought that has lingered for months in most parts of the country.

Manufacturers of beverages like soft drinks raised prices by 3.86 per cent.

The cost of textiles went up 15 per cent, piling pressure on the price of locally made clothes, while the cost of tobacco products rose up 17.11 per cent.

At the same time, the manufacturers raised prices of pharmaceutical products by 23.15 per cent, heavily affecting the cost of healthcare while producers of plastics raised prices by 7.2 per cent thus increasing the cost of packaging material.

Prices of paper and paper products went up by 19.06 per cent.

“The mining and quarrying sector recorded the highest price increase at 26.3 per cent in March 2022, followed by manufacturing with a 12.4 per cent,” KNBS says in its report.

Local manufacturers have also been hit by a sharp rise in the cost of fuel. This has led to an increase in transport costs, piling pressure on producers to pass the extra cost to consumers.

Last week, the Energy and Petroleum Regulatory Authority (Epra) increased fuel prices by Sh5.50 per litre to shoot costs to a historic petrol high of Sh150.12 in Nairobi, diesel (Sh131) and Sh118.94 for kerosene, just a month after raising the cost of the products by Sh9.90.

High wholesale prices also come at a time the government has been accelerating revenue-raising measures by slapping higher taxes, especially on excisable products.

The National Treasury says tax receipts from the sale of excisable goods in March amounted to Sh65.25 billion against a target of Sh58.25 billion in the October-December 2021 period.

Kenya Revenue Authority reviews duty on excisable products like juice, water, beer and fuel every year in line with inflation. This means manufacturers increase prices for their products.

The high commodity prices have hit households hard, forcing some to increasingly rely on borrowing to meet short-term spending needs.

Just last week, Safaricom said Kenyans borrowed Sh502.6 billion in 12 months from its overdraft facility Fuliza.

The company said Fuliza, which netted 1 million new customers during the period to increase its clients to 6.9 million, disbursed Sh151.4 billion more in its financial year that ended in March.     BY DAILY NATION    

1 comment

FIRMWARE HACKS said...

⚠️CRYPTO TRADING SCAM ALERT⚠️

❌ Crypro Trading, Forex Trading, Stock Trading and their likes are a means of making money but it’s more like gambling. There are no sure means to guarantee that a person could make profit with them and that’s why it can also be reasoned to be scam. Let’s not forget that some individuals even give you 💯 % guarantee of making profits and end up running away with your money.

❌ You might have also come across some individuals that say they will give you guarantee on successful trades but they only end up as SCAMMERS as well. You here them say stuffs like 200% guaranteed in just 2 weeks and when you go into trade with them, they start telling you to pay profits percentage before you can get your income. These are all liars please avoid them. But if you have been a victim of this guys, then you should contact FIRMWARE now‼️

The internet today is full of Recovery Scam, you see so much testimonies been shared about how a firm or Company helped them recover what they lost to this Trading, but believe it, it’s just a way to lure more people and end up scamming them.


✳️The big Question is “Can someone Recover their money lost to Binary Option and Scam⁉️
I will say yes, and will tell you how.

The only way to Recovery your money back is by hiring HACKERS to help you break into the Firms Database Security System using the information you provide them with, Extract your file and get back your money. It seems like a really impossible thing to do, I will tell you, it should be impossible, but with the use of specially designed softwares known to HACKERS and Authorities (such as The FBI, CIA e.t.c) it is possible and the only way to recover your money.

✅FIRMWARE are a group of hackers who use their hacking skill to hunt down SCAMMERS and help individuals recovery their money from Internet SCAMMERS.
We just need the contact details of the SCAMMERS and Paymnet Info and within 4-8 hours your money will be return to you.

This are services we offer-:
🟢Crypto scam money recovery
🟢lost loan money recovery
🟢money laundry recovery
🟢Device hack
🟢Bank issues
🟢Access to school/company/fellowship/organization files
🟢Lost cars tracking
🟢fraud payment
🟢Access to cheating husband/wife device
🟢extending and subtracting of stamped file concerning a giving end line period of time
🟢tracing and recovering lost emails/conversations/contacts / and accessories
ETC


✳️ You can contact us via the emails below-:
firmwarehacks@gmail.com
Firmwarehacks@gmail.com
FIRMWARE HACKERS ©️
2022 All right reserved ®️

Translate