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Yaoundé - 28 May 2022 -
Economy

Douala: Imported food prices rose 10.1% YoY in March 2022 (INS)

Douala: Imported food prices rose 10.1% YoY in March 2022 (INS)
  • Comments   -   Friday, 29 April 2022 19:22

(Business in Cameroon) - The prices of imported food products rose by 10.1% between March 2021 and March 2022 in Douala. This change is 1.2 points higher than that of local products, which rose by 8.9% YoY at the end of March 2022, according to the National Stats Agency (INS).

This change, INS says, is the result of the disruptions in the global supply chain since the Covid-19 crisis, which led to the increase in the cost of international freight. The disruptions have been exacerbated in recent months by the war in Ukraine, which has also accelerated the rise in global commodity and crude oil prices.

For several months now, this situation has made food products the main catalysts of inflation in Cameroon, in general, and in Douala, in particular. For example, in March 2022 alone, the household final consumption price index rose by 0.7% in the city, compared with 0.4% the previous month.

"This increase is mainly due to the acceleration of food prices (+1.5% after +0.7% last month), transport (+0.7% after +0.2% last month), as well as miscellaneous goods and services (+1.0% after +0.9% last month)," INS says. According to the same source, in March 2022, the overall increase in food prices was driven by the increase in the prices of bread and cereal (+7.3% after +2.8% the previous month) and the rebound in meat prices (+2.8%, after -0.7% the previous month).

In response to millers' demands, the government had to agree in March 2022 to an increase of CFA5,000 on the price of a 50 kg bag of wheat flour, and CFA25 on the price of a baguette of bread, which thus rose from CFA125 to CFA150.

BRM

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