During the June 2024 Monetary Policy Committee Media Briefing, the Central Bank of Kenya's Governor, Kamau Thugge, attributed the recent surge in vegetable prices, specifically onions and tomatoes, to supply chain disruptions. These disruptions, occurring between April and May 2024, were primarily due to heavy rainfall, which not only impeded farmers' ability to distribute their produce nationwide but also led to road damages and flooding in various regions.
The report highlighted a significant price increase, with onion prices escalating by 67.7% year-on-year in May 2024, contributing 0.4 percentage points to the overall inflation rate, up from 0.5 percentage points in April. Similarly, tomato prices witnessed a 29.7% year-on-year increase in May 2024, also contributing 0.4 percentage points to the inflation rate, an increase from 0.1 percentage points in April. Additionally, spinach prices experienced upward trends. Market observations indicate that the retail prices for medium-sized onions and tomatoes range between Ksh15 to Ksh20 in major towns and markets across Kenya.
[ Ksh100 = €0.69 ]
Source: kenyans.co.ke
