- Wednesday August 24th, 2022
- Posted by: inscameroun
Up by 13.7% year–on–year, food product prices are fuelling inflationary pressures.
Compared to the previous month, the overall price level rose by 0.8% in July 2022, mainly as a result of a 1.5% increase in food prices and a 2.3% spike in “restaurants and hotels” prices. The increase in food prices was primarily as a result of 8.1% acceleration in the prices of oils and fats. Prices of vegetables, fishes and seafood as well as breads and cereals kept rising, but at a slower pace than in the previous month. Conversely, meat prices fell by 0.5% after rising by 1.9% in the previous month.
Soaring prices for oils and fats was mainly as a result of the increase in prices of crude and refined oils. Vegetable prices rose by 1.3% as a result of the surge in prices of pulses and oilseeds, particularly shelled peanuts. The 1.4% rise in fish and seafood prices was as a result of soaring prices for dried or smoked fishes or other dried or smoked products, fresh fishes and frozen fishes and other frozen seafood products. It should be noted that the prices of imported food products increased by 0.3%; meanwhile, the increase in prices of locally produced food products is 1.8%.