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Yaoundé - 15 December 2018 -
Economy

Cemac: Inflation predicted to surge as of 2019, but to remain below the tolerance level (BEAC)

Cemac: Inflation predicted to surge as of 2019, but to remain below the tolerance level (BEAC)
  • Comments   -   Tuesday, 20 November 2018 12:33

(Business in Cameroon) - Inflation within the Cemac region is forecasted to slightly accelerate in 2019 and 2020, the Central bank Beac said.  

“The year-on-year inflation rate is expected to be around 2.2% at the end of 2019 and 2.4% at the end of the first quarter of 2020, compared with 1.4% in 2017 and 2.2% at the end of 2018,”  BEAC announced in its monetary policy report published late October 2018. The higher inflation will nevertheless remain below the 3% tolerance threshold set in the CEMAC zone, the bank pointed out. 

According to the report, it is mainly the result of the increase in taxation as Cemac countries plan to improve tax revenues, subsequently causing the rise in consumer prices. Other reasons include the strength of domestic demand, supported by the increase in budgetary revenues; the rise in fuel prices in Gabon coupled with continued increase in the sub-region, due to oil indexation on world crude oil prices”.

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