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Yaoundé - 19 March 2024 -
Economy

Imported food inflation hovered around 20% in Yaoundé in August 2022

Imported food inflation hovered around 20% in Yaoundé in August 2022
  • Comments   -   Wednesday, 05 October 2022 03:09

(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.

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