Driven by food prices, which rose by 13.3%, inflation reached an annual average of 7.8% at the end of August.
Compared to the previous month, household final consumer prices rose by 0.5% in August 2023, following a 0.4% increase in July. This increase in prices is mainly due to a 1.3% increase in food prices and a 1.1% increase in education costs. The 1.1% increase in education costs is linked to the increase in annual tuition fees and/or registration in certain private and/or denominational primary and secondary schools. Although the prices of some school supplies have also increased, it should be noted that the prices of most textbooks on the official lists have remained stable. Compared to the same month in 2022, the general price level increased by 7.4% in August 2023, mainly due to the surge in food prices, which rose by 10.9%, as well as transport costs, which increased by 16.8%. On average, stationery prices increased by 4.6% between June and August 2023 compared to the same period in 2022. In one year, the prices of “drawing materials and other office supplies” have increased by 6.6%. On average over the last twelve months, the inflation rate in August was 7.8%, exceeding the 3% threshold set by the CEMAC. This increase is mainly due to the 13.3% increase in food prices, 10.4% in transport costs and 8.6% in the prices of furniture, household items and everyday cleaning products. The inflation rate remained above 7% in 9 regional capitals, the highest is recorded in Bertoua, while the lowest rate is observed in Garoua. The core inflation rate1, which excludes the prices of petroleum products and domestic gas in particular, rose to 6.8%. Inflation is not only fuelled by fresh produce and energy products, whose prices have risen by 13.9% and 5.7% respectively. Depending on the origin of the products, the increase is more marked for local products, whose prices increased by 8.5%, than for imported products, for which prices increased by 6.0%.
