CBK Report Projects Price Increase for 3 Food Items

Hello and welcome to the Money News Roundup Newsletter. Today, we’re covering the projected price increase of some consumer goods such as maize flour and sugar. We also detail why Kenyans face higher pump prices in the coming months.

‍Maize, Sugar, and Cooking Oil Prices to Increase - CBK Report

The Agricultural Sector Survey by the Central Bank of Kenya (CBK) has projected an increase in the price of maize, sugar, and cooking oil.

According to the report published on Tuesday, June 17, the CBK report attributed the projected increase in maize prices to seasonality.

The spike is expected to be witnessed from this month.

Notably, maize prices had already registered a spike in the last weeks of May. At the time, prices of the 2kg packed had increased by over Ksh6, with millers attributing the increase to a shortage.

As a result, the Ministry of Agriculture distributed 200,000 bags of maize to various millers.

Meanwhile, the price of sugar and cooking oil is set to increase owing to global factors.

"Balance of opinion (BOO) on expected price changes shows prices of key cereal products and select vegetables are expected to increase in June 2025 reflecting seasonal factors. Respondents expect prices of maize products and related items to be slightly higher in June 2025 relative to May 2025," read the report in part.

"In addition, respondents expected the prices of sugar, cooking fat, and cooking oil (salad) to also pick up, reflecting developments in the global market where prices of these items have been rising in the recent past."

Conversely, the prices of vegetables such as spinach and sukumawiki are set to reduce during the month.

"Similarly, the proportion of respondents that expect tomato prices to increase declined in May compared to the April 2025 survey," read the report in part.

At Money254, we publish the prices of 10 basic items every Monday, 9 of which are food items that include maize flour, cooking oil, and sugar, comparing prices across four supermarkets. Here is this week’s comparison.

Why Kenyans Could Soon Face a Hike in Fuel Prices

As reported in the Business Daily, Kenyans could soon pay more for fuel owing to the ongoing conflict between Israel and Iran.

It was explained that the conflict was threatening oil supplies, given that Kenya has a G-to-G deal with Saudi Aramco, Emirates National Oil, and Abu Dhabi National Oil.

The conflict is expected to cause traffic disruptions through the Strait of Hormuz, a narrow waterway in the Middle East that supports the export of a third of the world's oil and gas.

In the latest review of June pump prices, the price of Super Petrol was increased by Ksh2.69 per litre, while Diesel and Kerosene were reduced by Ksh1.95 and Ksh2.06 per litre, respectively.

In Nairobi, a litre of Super Petrol, Diesel, and Kerosene currently retails at Ksh177.32, Ksh162.91, and Ksh146.93.

Kenyans Lose Ksh112,000 on Average in Digital Fraud - Report

A report by TransUnion has revealed that Kenyan victims of digital fraud lose Ksh112,000 on average in a single incident.

As detailed by Kenyans.co.ke, 82 per cent of Kenyans were targeted by fraudsters through email, SMS, and phone calls between August and December 2024.

Notably, Kenya topped the list for the most digital fraud in Africa within that period.

"The survey determined that the median amount those consumers said they lost due to fraud in the past year was Ksh226,132 (in 18 countries). For those who said they lost money due to fraud in Kenya, the median stated amount lost was Ksh116,108."

‍HELB Announces Waiver in Bid to Recover Ksh40 Billion

HELB has announced an 80 per cent waiver on interest for Kenyans who have outstanding loans.

As reported by Nairobileo.co.ke, the waiver will be applied to Kenyans who will repay their loans between June and July.

Meanwhile, HELB CEO Geoffrey Monari revealed to Citizen Digital that hundreds of thousands of Kenyans had defaulted on loan repayments.

According to Monari, Kenyans owed the board Ksh40 billion. Some of the beneficiaries who are not actively repaying their loans are accountants, lawyers, and doctors.

‍Treasury CS John Mbadi Responds Over Delays in Pension Payouts

Treasury CS John Mbadi has attributed delays in pension disbursements under the Public Service Superannuation Scheme (PSSS) to incomplete policy frameworks and legal bottlenecks. 

As reported by the People Daily, Mbadi admitted that despite the scheme’s rollout in 2021, many retirees, including police officers and teachers, remain unpaid.

The response by Mbadi came after Kisumu Senator Tom Ojienda raised concerns about the prolonged delays, questioning why pensioners are still suffering years after leaving service. 

“There seems to be a patent and palpable delay, yet we are still operating under the same system. When will they be paid?” Ojienda questioned.

“The delay has been occasioned by a lack of processing mechanisms, which we have now processed and are almost concluding. Once that is done, the pensions will be processed, likely within two weeks,” the CS responded