Driven by food prices, which rose by 13.7%, inflation averaged 7.5% per year
The National Institute of Statistics (INS) is pleased to publish the note on the evolution of household final consumer prices for the month of May 2023. Compared to the previous month, household final consumer prices roseby 0.4% in May 2023, following a 0.7% increase in April. This month’s price increase was mainly due to a 1% increase in food prices, a 0.3% increase in transport costs and a 0.3% increase in “housing” costs. water, gas, electricity and other fuels“.
– The 1% increase in food prices is mainly explained by the increase in the prices of vegetables, “milk, cheese and eggs” and, to a lesser extent, fish and seafood. On the other hand, the prices of oils and fats continue to decrease; Prices of bread and cereals as well as fruit prices have fallen.
– Transportation costs were up 0.3% due to higher vehicle purchase costs and transportation services.
transport (including air and road passenger transport). Compared to the same month in 2022, the general price level increased by 7.8% in May 2023, mainly due to the surge in food prices by 11.8% and transport costs by 16.2%. On average over the last twelve months, the inflation rate in maize has been 7.5%, exceeding the 3% threshold set by the CEMAC. This increase is mainly due to the 13.7% increase in the prices of food products and the 8.4% increase in the prices of furniture, household items and routine cleaning items.