National Institute of Statistics’ new report claims inflationary pressures in Cameroon

In more than the last 1 year, the change in the general level of prices in Cameroon is 2.3 percent on average. Based on a note of conjuncture of the National Institute of Statistics, this reflects the persistence of inflationary pressures.

Compared to the same period in 2018, the general price level thus increased by 2.5 percent in the first nine months of the current year, after + 0.8 percent a year ago.

Over the last 12 months on average, the rise has risen to 2.3 percent after + 0.8 percent in 2018 in Cameroon; reflecting a rise in inflation largely attributed to higher food prices (2.8 percent), restaurants and hotels (5.3 percent), clothing and footwear (2.8 percent) and transport (2 percent).

According to the National Institute of Statistics (INS) report via APA, the first 9 months of 2019 were characterized by soaring prices for some consumer goods such as rice, frozen fish, meat and sugar, in conjunction with dysfunctions in the distribution chain of these commodities probably accentuated by speculations of the actors taking advantage of 'the confusion induced by the scarcity of the currencies to realize substantial profits'.

On average over the last 12 months, imported inflation persists and local inflation is accelerating in Cameroon, the institute reveals. With the currency crisis, the speculative actions of distributors or traders, the persistence of insecurity in the regions of the Far North, North West and Southwest and the return of floods in the Far East. North, the inflation rate could be around 2.7 percent by the end of this year.

The INS urges the government, as in the past, to continue its policy of living cheaper, especially as the end of year season approaches, through a better supply of consumer markets at lower cost.