- Thursday November 28th, 2024
- Posted by: inscameroun
- Category:
In October 2024, consumer prices rose by 0.3% compared with the previous month and by 4.7% on average over the past twelve months; an increase supported by the prices of local goods and services.
Compared with the previous month, household consumer prices edged up by 0.3%, following an increase of 0.8% the previous month. This increase in prices was mainly due to a 0.3% increase in food prices and a 0.7% increase in transport costs. The increase in food prices is largely explained by the increase in the prices of fresh vegetables in fruit or root form, fruits and meats, items sensitive to seasonal fluctuations and the supply chain. On the transport side, the price hike is mainly attributed to the increase in the cost of smuggled fuel, commonly known as ‘zoua-zoua’ or ‘fungen’, from Nigeria. On a year-on-year basis, compared to October 2023, inflation reached 4.5% as against 4.4% in September 2024. This slight increase is the second consecutive acceleration, suggesting a possible reversal of the trend in the coming months. The average inflation rate over the past twelve months stands at 4.7%. This inflation is mainly fuelled by a 5.7% increase in food prices, as well as a significant increase of 13.1% in transport costs. By region, inflation rates vary significantly from one region to another, from 3.3% in Bamenda to 6.8% in Maroua. Besides Bamenda, the least affected cities are Garoua and Bertoua, with a rate of 3.5%. In contrast, Maroua, with a rate of 6.8%, is the most affected city, followed by Douala with 5.3%, Buea with 4.9%, and Bafoussam with 4.8%. These regional disparities are partly accounted for by differences in transport costs, product availability and the specific effects of local supply chains