ow unto you if you are a trader who engaged in artificial price hikes,you will be arrested-Govt

ow unto you if you are a trader who engaged in artificial price hikes,you will be arrested-Govt

BY NAMULONGO PETER,NAIROBI,24TH MARCH,2022-The government will investigate traders over the recent commodities price hikes in the country.

The Competition Authority of Kenya says in spite of the global shocks that have seen prices of most commodities surge, the authority is probing local producers who may have engaged in price gouging to cash in on the prevailing economic situations in the country.

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

The rise in inflation was due to increased prices of basic commodities such as cooking oil and maize flour.

However, the Competition Authority of Kenya says some traders might be taking advantage of the global events to increase prices unfairly.

The regulator says it plans to carry out a survey on producers’ production costs and give recommendations on appropriate commodity prices to protect consumers.

This comes when the Common market of east and Southern Africa have been tipped to reduce tariff and non-tariff barriers to increase intra-regional trade to offset wheat deficits occasioned by the Eastern Europe war.

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