Increase in Food Prices: NIS Reports an Inflation Rate of 2.2% in the Cities of Douala and Yaoundé

3
187

The National Institute of Statistics has reported that Yaoundé and Douala are facing a steady increase in the prices of food items, varying from fish, meat, fruits, vegetable oil, flours, tomatoes and grains since June 2021.The report states an inflatable rate of 1.4% in the city of Douala and 0.8% in the city of Yaoundé.

According to the report Published recently by the National Institute of Statistics, this inflation has been caused by the he steady increase in the prices of food items. Cost of food items in Cameroon increased 3% in June 2021, over the same month in the previous year.

This report that focuses on the final household consumption prices of Douala and Yaoundé reviews an average and a steady rise of 2.1% prices of food items, which increase at an average of 4.0% in June 2021. The National Institute of Statistics says that the prices of fish and fishery products for instance increased from 2.2% to 3.9% between May and June 2021.

The report further states that the increase basically affected smoked and dry fish, as well as fishery products common in Cameroonian markets as “bunga”, cap bifaga and mackerel. A kilogram of fish within this period witnessed an increase of at least Fcfa350, depending on the type and size of fish.

The popular Mauritanian mackerel fish species commonly known as ‘oya oya’ has become very scarce in fish markets for some months now. Consumers of this particular specie have been obliged to switch to other fishes, as the little quantity available now is sold at cutthroat prices.

Fresh tilapia, which is not common in cool stores, and frozen imported ones have skyrocketed. Cold store dealers buy a carton of 20kg of fresh bar fish from fishermen at Fcfa50, 000 and sell at Fcfa60, 000 making a profit of Fcfw10, 000 and a kilogram during retail cost Fcfa3, 000.

Prices of fresh fish and fishery products generally known in Cameroonian markets as bar and cat fish either remained the same or dropped within the same period, according to the National Institute of Statistics.

The report also reviews an increase in the prices of meat like Chicken and pork with the exception of beef. Chicken in poultry markets in Yaoundé have experienced an additional fee of Fcfa500 per chicken. A chicken that was initially sold at Fcfa2500 is now gotten at Fcfa3500. A kilogram of pork has stepped up to Fcfa3000. All these have been attributed to scarcity.

The institution also notes a steady increase in the prices of fruits like orange, bananas, lemon among others.  The prices of these fruits increased from 0.8% in May to 8.2% in June 2021 with the exception of pineapples

The increase in the prices of these fruits is provoked by an increase in the prices of vegetables, according to the National Institute of Statistics. The prices of vegetable oil increased as a result of a decrease in the prices of palm oil. Five litres of vegetable oil that was previously sold at Fcfa5500 now cost at least Fcfa6500.

As regards the increase in the price bread and floury products, the National Institute of Statistics linked it to the increase in the prices of cereal like maize and sorghum. The price of bread increased from Fcfa125 to Fcfa150. When consumers complained, producers preferred to reduce the quality of bread, making it lighter.

On a general note, the National Institute of Statistics accentuated an Inflation rate of 1.4% in the city of Douala and 0.8% in the city of Yaoundé.

This increase in food prices comes at a moment when about 600 companies in Cameroon are said to be undergoing financial challenges, which is stopping them from excelling. According to the Enterprises Upgrading Office of Cameroon, these companies need financial assistance from the government.

“The highest challenge faced by Industries is the problem of finance. It becomes very difficult for some of us who launched their companies by ourselves, especially when it comes to lending money from banks, “lamented Dieudonné NDE, C.E.O of SOTRACAO.

In a bit to assist these companies for a fruitful growth in a competitive economy, the members of the  Enterprises Upgrading Office of Cameroon met in Douala to sign a scholarship agreement for a better follow-up of these companies, Chantal Elombat, director of the Enterprises Upgrading Office explained.

Finance is very important for a company to invest. A better distribution strategy is needed to face the competitive market. It is for this reason that some companies registered with the Enterprises Upgrading Office so as to meet up with their challenges.

The major challenge with local companies is that locally made products continue to face a stiff competition with foreign products.

Ingrid KENGNE

Comments are closed.

ECHOS SANTE

GRATUIT
VOIR