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Yaoundé - 26 September 2021 -
Economy

Douala: Consumer price index rose 2% YoY in May 2021 (INS)

Douala: Consumer price index rose 2% YoY in May 2021 (INS)
  • Comments   -   Thursday, 24 June 2021 13:56

(Business in Cameroon) - Year on year, the consumer price index rose by 2% in Douala in May 2021, according to data from the National Institute of Statistics (INS).

According to the INS, this rise was mainly spurred by food products (+4.1%, down from 4.2% in April 2021), alcoholic drinks, tobacco, and drugs (+3.5%, down from +3.6% in April 2021) as well as recreation and culture (+2.0%, down from +2.2% in April 2021).

In its report, the INS does not give the reasons the price index rose year on year but, as their consumption highly depends on importation, Douala residents (like all those residing in Cameroon) seem to be paying the price of disruptions caused by the second wave of the coronavirus pandemic in the global logistics chain.

Apart from disruptions caused by the second wave, CEMAC economic operators also claim that due to the new foreign exchange regulation in force in the sub-region, they are experiencing growing difficulties in paying their foreign suppliers. According to the Cameroonian rice importers' association, in the coming months, there will be a shortage of rice, which is one of the most consumed in the country. For the association, the shortage will be caused by supply difficulties.

At the same time, the local poultry sector’s production is gradually dropping because of difficulties experienced in sourcing day-old chicks and hatching eggs from abroad, given that the local production is not enough to meet demands. Consequently, the prices of poultry products are rising in markets, according to the Poultry Interprofessional Organization (IPAVIC).

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