CPDM Crime Syndicate: Inflation Still Above 3% in June 2024 Despite Decline Since March 2023 ⁰

In June 2024, consumer prices in Cameroon rose by 4.3% year-on-year, according to a report on household consumption prices published by the National Institute of Statistics (INS). This increase is attributed to a 5.2% rise in food prices and an 11.2% increase in transportation costs.

Despite a gradual decline from a peak of 8.5% in March 2023, the inflation rate remains above the 3% tolerance threshold set by the Central African Economic and Monetary Community (CEMAC).

“On a regional level, inflation rates vary between 5.1% and 7.4%. However, the rate is 3.6% in Bamenda (…) Depending on the origin of the products, inflation is mainly due to internal factors. Prices of local products rose by 6.1%, while those of imported products only increased by 4.5% over the same period”, states the INS report.

Source: Business in Cameroon