Actu Eco » Banque et Finance

Economy : Food Prices On The Market Are Breathtaking.

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Essential items become increasingly unaffordable in Cameroon in general and Yaounde in particular as prices skyrocket.

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 Life is becoming increasingly unbearable these days, going to the market has become a real headache. The populations are desperate, unsure of how to deal with the escalating cost of food staples, some one needs 5000fcfa to more than 10,000 fcfa needed just to eat one's fill. Housewives are bearing the brunt of this crisis, forced to alter their family's dietary habits.Based on observations in our markets, meat is no longer within everyone's reach, a 500 francs of bunch of Mbouga fish now contains only 3 to 4 fish, whereas 1000 francs buys just 6 fish. In the past , 500 francs could get you 5 or even 6 fish ,in addition the price of Mayor cooking oil has skyrocketed from 1200 francs to 1500 francs . According to experts, this price inflation stems from various factors, both international and national.Factors such as: reduced fuel subsidies, climate-related disruptions and security concerns in the North-West and South-West Regions have driven up the cost of living for households. According to the National institute of statistics, the surge in food prices on the market has recorded a 10.9% increase. Bread, cereals, meat ,fish , oils and sugar are among the food products that have seen the sharpest price increases .The Cameroonian government have recently taken measures to alleviate the financial burden on consumers , by subsidizing basic food products such as rice . Cameroon recently imported 90,000tonnes of rice from India. Despite these efforts, some traders have maintained higher prices, citing outdated stocks, high transportation costs and even the Russian-Ukrainian war as justification. Some traders have misleadingly inflated prices, making it difficult for a low-income Cameroonian to acquire those basic necessities.      



Christelle Koambi

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