Prices of consumer products increase by 2.8%

The prices of household products has increased by 2.8% in the first quarter of 2015 compared to the same period in 2014 where the increase was 1.3% according to a memo released by the National Statistics Institute (INS) on Friday.

For 12 months now the increase has been in order of 2.3% against 1.7% recorded for the same period last year which recorded the fastest inflation in the spatial plan in Douala, the economic capital of Cameroon.

The INS largely justifies the increase in the general level of prices by the soaring prices of transport (11.0%), resulting from the upward revision (15% average) in fuel prices since July 1, 2014.

Restaurants and hotels services record an inflation (4.2%) which has worsened with the increase in prices of industrial beers (between 50 and 100 CFA francs); the beer companies influence on the new consumer tax (right to excise) on alcoholic beverages decided by the government.

Food prices continue to settle, and there is no other exogenous shock about the rise in prices of alcoholic beverages recorded in February 2015, thus the INS expects an inflation rate of around 3% (EU standard) at the end of the year.