(Business in Cameroon) - Inflation reached 7.4% in Yaoundé, Cameroon’s capital, in August this year, a recent INS report revealed. This rate was driven mainly by imported food prices, which rose 19.3%, exceeding the average 14.9% increase in prices of all food products on the local market during the period. The hike in the prices of imported food items is also 6% points higher than that of locally produced food products, which was 13.3% according to the document.
INS attributes this situation to the explosion of sea freight and raw material costs, due to the post-Covid-19 economic recovery and the Russia-Ukraine war. Local companies also face additional production costs, which are passed on to final consumers.
BRM