ARTICLE AD BOX
(Business in Cameroon) - Final consumer prices continued to rise in September 2022 in Douala. According to the National Institute of Statistics (INS), they increased by 6.9% year-on-year, driven by a 14% surge in food prices.
"Inflationary pressures on food products, both imported or locally produced, were much higher in September 2022 than in September 2021: +12.8% on prices of imported food products, and +14.9% on those of locally produced products," INS reported. This means that the increase in the prices of locally-produced food products in September 2022 in Douala was 2% higher than that in the prices of imported food products.
The national data agency did not cite the reasons behind this scenario but it can be explained by the strong demand for local products. Especially, since the costs of sea freight have soared, affecting imports, and new exchange regulations have been introduced, complicating payments between local buyers and foreign suppliers.
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