logoBC
Yaoundé - 29 March 2024 -
Consumption

Cameroon: The inflation rate could be less than 2% this year

Cameroon: The inflation rate could be less than 2% this year
  • Comments   -   Monday, 12 March 2018 11:50

(Business in Cameroon) - This year, Cameroon’s inflation rate could increase from the 0.6% it was in 2017 but it will be less than 2%, the national institute of Statistics (INS) reveals.  

The institute explains that some measures initiated by government could limit the increase in consumer prices this year. These measures are notably, the 5% tax on the export of some products (palm oil, cola nuts, acacia gum, pepper, millet, sorghum and eru), the tax exemption on the import of empty domestic gas bottle and of some pharmaceuticals. There is also the decrease of communal stamp duty from CFA600 to CFA500.

Despite these measures however, the inflation rate could stand at around 2%. This is because of the upcoming AFCON2019 (hosted by Cameroon). The INS reveals, as the event approaches, the demands could rise. Moreover, in case the disturbances in the market supply continue due to the insecurity in the northern region and an insufficient cereal production, the results of these measures could be thwarted.

S.A

eu-pledges-over-cfa12bn-for-entrepreneurship-and-electricity-access-support-in-cameroon
The EU agreed to disburse over CFA12 billion to support growth-driven projects in Cameroon. The two related deals were signed in Yaoundé on March 26...
central-africa-set-for-highest-economic-growth-in-a-decade-amid-inflation-concerns
Growth within the Cemac region is expected to peak at 3.6% this year, according to the estimates of Beac’s Monetary Policy Committee (MPC), which met on...
mtn-cameroon-sees-record-growth-with-cfa325-7bn-revenue-in-2023-amid-market-challenges
MTN Cameroon reported a robust revenue of CFA325.7 billion for 2023. According to data released on the Johannesburg Stock Exchange in South Africa, this...
cameroon-s-customs-enforces-air-cargo-regulations-threatens-fines-for-non-compliance
Edwin Fongod Nuvaga, the Director-General of Customs in Cameroon, has issued a reminder to airlines about their obligations to comply with standard...

Mags frontpage


Business in Cameroon n110: April 2022

Covid-19, war in Europe: Some Cameroonian firms will suffer


Albert Zeufack: “Today, the most important market is in Asia”


Investir au Cameroun n120: Avril 2022

Covid-19, guerre en Europe : des entreprises camerounaises vont souffrir


Albert Zeufack: « Le marché le plus important aujourd’hui, c’est l’Asie »