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Wednesday, February 21, 2024

Government to investigate local producers on high price of products

The Competition Authority of Kenya says it will investigate the high price of commodities from local producers who may have taken advantage of the change in the economy.

The authority noted that in spite of the increase in prices of most commodities, most traders are gouging to cash in on the situation.

According to the Kenya National Bureau of Statistics, food inflation rose by 0.83 percent to 8.69 percent in February this year.

This inflation was caused by the increase in price of basic commodities which has made the regulatory to plan on probing.

A survey will be done on producer’s production cost to protect consumers and have appropriate price.

This comes when the common market for East and Southern Africa have been urged to reduce tariff and non-tariff barriers to increase intra-regional trade which will offset wheat deficits occasioned by the Eastern Europe war.

Shillah Magret
Shillah Magrethttps://lenyaxmedia.co.ke
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