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Local brands agree to lower FMCG prices to fight the high cost of living

Local brands agree to lower FMCG prices to fight the high cost of living
  • Comments   -   Thursday, 18 May 2023 15:16

(Business in Cameroon) - Several local brands in Cameroon, including Dovv, Santa Lucia, Centragel, Djouf, and Blé d'Or have agreed to lower the prices of some fast-moving consumer goods to help tackle the high cost of living in the country. The initiative, called “Unity against the high cost of living”, was launched last May 15 by the Minister of Commerce, Luc Magloire Mbarga Atangana. It is expected to end on May 31.

"It is a measure of social justice (...) Santa Lucia, Dovv, Djouf, and Blé d'or have agreed to lower the prices of some products including refined oils, pasta, sugar, soap, detergents, and even rice," Minister Mbarga Atangana said. These brands are thus joining the French group Carrefour, which has recently committed not to increase prices on 100 products for 100 days.

The objective of this government campaign is to enable households to acquire consumer goods at affordable prices in a context where inflationary pressures continue to grow due to the war in Ukraine and the post-pandemic period. According to the National Institute of Statistics, the inflation rate in Cameroon has accelerated to 6.3% in 2022, the highest level in at least 27 years.

CJ

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