Food prices record 1.7% increase in 2014

The prices of households final consumption recorded an increase of 1.7% during the first 9 months of 2014 in Cameroon, against 2.1% a year ago, according to a note of conditions made public Tuesday by the national Institute of statistics (INS).

This uptrend in the general level of prices is a result of the prices of goods and transport services which rose 5.5%, following the revision of fuel prices at the pump July 1, 2014, which induced an increase of 5.5% of the prices of goods and transport services. Food prices increased by 1.9% during the last twelve months and goods and transport services also increased by 5.5%.

Inflation being both internal and external, the prices of local goods and those of imported goods rose 1.8% and 1.2% in the first nine months of the graduate year respectively. By production sector, the tertiary products feature at the top (+ 2.5%), followed by the primary sector (+ 1.8%) and secondary (+ 0.8%).

Under the assumption that apart from 1 July 2014 fuel prices rising, there was no other exogenous shock and that food prices remained stable, inflation, according to the INS, lied around 3% in late 2014, thus respecting the community standard.