In June 2024, consumer prices increased by 0.4% month-on-month and by 5.7% on average over the last twelve months, driven more by the prices of local
goods and servicesCompared to the previous month, household final consumer prices rose by 0.4%, following a 0.3% increase in the previous month. This increase is mainly due to the rise in food prices, as well as the less marked increase in the costs of the “housing, water, gas, electricity and other fuels” component. The rise in food prices can be explained mainly by the increase in vegetable prices. As for the component “housing, water, gas, electricity and other fuels”, the increase in prices is mainly caused by the increase in the prices of solid fuels. Year-on-year, compared to the same month in 2023, the increase is 4.3%, mainly attributable to the 5.2% increase in food prices and 11.2% in transport costs. It should be noted that this price increase has been gradually declining since a peak of 8.5% in March 2023. On average over the last twelve months, the inflation rate stands at 5.7%, exceeding the 3% threshold set by the CEMAC. This increase is mainly due to the 7.6% increase in food prices and a 14.9% increase in transport costs. At the regional level, inflation rates fluctuate between 5.1% and 7.4%, with the exception of Bamenda where it is 3.6%. The core inflation rate1, which excludes the prices of petroleum products, domestic gas and fresh products in particular, is 4.1%. Inflation is therefore not only fuelled by fresh produce and energy, whose prices have risen by 12.1% and 8.7% respectively.
