Consumers expected to face rising food prices

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Foodstuffs on display at a stall in a market.

Foodstuffs on display at a stall in a market.

Experts say consumers will have to dig deep into their pockets to purchase the current food basket in the coming months as food prices continue to soar.

This comes at the time supply of main food items in the daily food basket for households continue to slowdown hence forcing their prices on the market to rise since mid-last year.

“Much as we can hope for the best in the next three months, we cannot rule out a possibility of a further rise in food prices,” said Job Opar, a consumer protection expert on Thursday.

He adds, “And this is mainly driven by a short supply of these items which his mainly due to climate patterns.”

Accordingly, the supply  of  some food items such as bananas, fruits and vegetables  continue  to  shrink pushing their  prices  to climb since last year which  has also seen the country inflation  keep an upward trend.

“We have not been getting enough supply of bananas since last month,” Annet Mudenge, a trader in Kimironko said “I think it is because of the dry spells last year.”

Moreover, the increasing food prices according to central bank has led  to an upward trend in the inflation which  grew to by 4.6 percent in March  2016 up from 4.4 percent for the month of February.

“This is mainly due to the rising prices of Food and non-alcoholic beverages‟ 7.8 percent, Housing, water, electricity, gas and other fuels‟ 3.0 percent and „Transport‟ 4.8 percent,” said Lucie Mutetijabiro from National Institute of Statistics of Rwanda-NISR

The statistics body says the underlying inflation rate which excludes fresh food and energy increased by 0.1 percent when compared to the month of February while it rose by 2.9 percent compared to March 2015.

 

 

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About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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