(Business in Cameroon) – Production costs in Cameroon’s extractive sector fell by nearly 2% from January to March 2024, continuing a trend from early 2023 after several months of increases in 2022. The Industrial Producer Price Index (IPPI) from the National Institute of Statistics (INS) showed a 1.9% decrease in factory gate prices, notably in hydrocarbons.
The INS report highlighted a 1.8% decrease in prices from the fourth quarter of 2023 to the first quarter of 2024. However, the report did not provide specific reasons for this cost reduction. This decline deviates from the general trend observed in the industrial sector during the period.
Overall, the IPPI indicates that factory gate prices in Cameroon’s industrial sector rose by 0.9% year-on-year in the first quarter of 2024. This increase was primarily driven by the wood processing sector, which saw a 12.5% rise, and the textile industry, with a 9% increase.
