(Business in Cameroon) - In the first 9 months of 2019, general price level increased by 2.5% year over year in Cameroon. This is revealed by the national institute for statistics (INS) in a report it recently published.
According to the INS, inflationary pressures in Cameroon were more pronounced in 2019, since the general price level in the country had risen by only 0.8% in the first nine months of 2018.
This “upsurge in inflation” is “largely due to the rise in prices of food (2.8%), restaurants and hotels (5.3%), clothing and footwear (2.8%), and transport (2.0%).”
At the same time, “the soaring prices of some consumer products such as rice, frozen mackerel, beef, and sugar, due to dysfunctions in the distribution chain has probably been accentuated by speculation of actors who were taking advantage of the confusion induced by the scarcity of currencies to make substantial profits,” the INS reports.