(Business in Cameroon) – Inflation in Cameroon over the first six months of 2024 stood at 5.7%, according to figures reported by the National Institute of Statistics INS. This marks a slight decrease of 0.2 percentage points from the 5.9% recorded in the first half of 2023.
The INS indicated that rising prices for food and transportation contributed to the persistent inflation. The rate remains high despite measures taken by Cameroonian authorities, such as salary increases and higher minimum wages, aimed at mitigating the impact of rising fuel prices since February 3, 2024. Since 2022, inflation has hovered around 6%, double the 3% threshold tolerated within the Cemac region.
INS pointed to several external factors to justify the situation. These international geopolitical tensions in the Middle East and Europe, the ongoing Russia-Ukraine conflict, the lingering effects of the COVID-19 pandemic, and fluctuations in the exchange rate between the CFA franc and the US dollar (via the Euro).
