(Business in Cameroon) – Inflation in Cameroon averaged 4.9% during the first nine months of 2024, a decrease of 2.9 percentage points compared to the same period in 2023, according to the National Institute of Statistics (INS). The drop comes despite price increases in key areas such as food and transportation, driven by a 15% hike in fuel prices at the pump earlier this year.
The INS reported that food prices rose by 6.2%, while transportation costs jumped by 13.4%, contributing significantly to the overall inflation rate as of the end of September 2024.
Looking ahead, the INS predicts that inflation could stabilize at around 4.5% by the end of the year. This projection takes into account both the February 3, 2024, fuel price adjustment and the broader trend of declining inflation rates globally.
Despite this progress, Cameroon’s inflation rate remains above the 3% target set for member countries of the Central African Economic and Monetary Community (CEMAC).
