In the first half of 2021, food prices rose sharply, failing the vast majority of households in the country. The National Institute of Statistics (INS), which has studied the issue, has shed light on the reasons that explain this increase. On September 1, the Institute estimated that food prices rose by 3.6% between January and June 2021, compared to the same period in 2020.
To explain this increase, the National Institute of Statistics estimates that the speculation of retail distributors, due to the reduction of mobility at the borders; the low supply of agricultural products due to climate change that disrupts agricultural cycles; and persistent insecurity in parts of Cameroon are responsible. But we must also add to these factors the limited supply of the major consumption centres because of the deterioration of certain axes of the road or rail network as well as the transmission of the rise in world prices.
Unfortunately, it is the basic products, which in addition are the most consumed and sought after, such as rice, dried corn, wheat flour, fresh fish, beef, that are bearing the brunt of this serious increase.
However, this institute estimates that the price increase would be lower than the Community inflation rate, which remains below 3%, i.e. +2.2% at the end of June 2020, after 2.3% in the first half of the year. In other words, inflation remains under control, as it is expected to remain below 2.4% at the end of 2021, according to INS forecasts. However, to prevent the situation from turning sour, the INS therefore suggests that the State proceed with regulation in order to ensure the supply of markets and curb any unreasonable increase in prices. It is also a question of preventing the increase in prices on the international market from having too great an impact in Cameroon.