Business in Cameroon | In February of this year, Douala, the economic capital of Cameroon, saw a new rise in inflation. “The general level of prices increased by 3.3%, after +2.9% the previous month and +2% in February 2021,” the National Institute of Statistics (INS) said in a recent report.
This situation in Douala is mainly driven by the increase in food prices (+8.2% in February 2022, after +7.9% the previous month), as well as those of education (+3.6%, after +3.4% the previous month).
Regarding food products, the stats agency points out that during the period under review, “the prices of imported food products increased by 9.6% YoY, and those of local products by 7.7%”. This is the result of the explosion of maritime freight costs, as well as the soaring prices of agricultural raw materials and crude oil. This reality, which started with the Covid-19 pandemic, has been aggravated by the Russia-Ukraine war.