Consumer inflation rises 2.8 percent yr-on-yr

Cameroon’s consumer inflation rose 2.8 percent year-on-year in the first quarter of 2015, compared with 1.3 percent in the same period last year, driven by higher transport costs following a cut in fuel subsidies, the national statistics agency said on Friday.

Inflation in Cameroon — the biggest economy of the six-nation Central Africa franc zone — is expected to remain around 3 percent in 2015 compared with 2.3 percent in 2014, the National Institute of Statistics said in a statement.

Cameroon cut fuel subsidies in July last year, leading to a cascading effect on the price of petroleum products, which since jumped 15 percent on average. Taxi, hotel, restaurant and beer prices also rose in the period, the Institute said.