Food products and education costs pushed inflation upwards at the end of last August. This reached 7.8%, far exceeding the community threshold of 3% set by Cemac, according to a note on the evolution of final household consumption prices in Cameroon published at the end of last September. , by the National Institute of Statistics. Compared to the month of July, household final consumption prices recorded an increase of 0.5% in August 2023, after an increase of 0.4% in July.
Regarding the prices of food products which mainly influenced this inflation, the Ins indicates that they increased by 1.3% compared to the figure for last July to stand at 13.3% at the end of August.
This progression is maintained by the increase in the prices of bread and cereals which increased by 1.4%, compared to the previous month. Thus at the end of August, the prices of bread and cereals reached 13.0%.
Furthermore, the prices of meat and fish on the one hand and seafood on the other hand, at the end of August, are 7.5% and 13.2% respectively, after an increase of 0.6% and 1. 3% compared to the month of July.
As for milk, cheese and eggs, reveals the Ins, they increased by 0.2% in one month to stand at 14.0% at the end of August. Non-alcoholic drinks and alcoholic drinks experienced monthly growth of 0.2% and 0.4% and are thus at 4.1% and 4.5%, respectively.
Regarding education costs, let us specify that they experienced an increase of 1.1%, in particular with the increase in annual tuition and/or registration fees in certain private and/or religious establishments in the primary education and secondary education. This strongly influenced inflation.
Indeed, there was increased demand for education-related goods and services at the end of August. As the start of the school year approaches, households have purchased school supplies, uniforms, books and other education-related items. This has caused inflationary pressure which could be accentuated by the increase in transport demand. The back-to-school period may cause an increase in demand for public transport, taxi or motorcycle taxi services, particularly during peak hours.
In regions where higher education establishments are present, the back-to-school period may cause increased demand for student accommodation. Rents can increase at this time of year, which can potentially influence the consumer price index.
However, it should be emphasized that these impacts – linked to the start of the school year – are generally temporary in nature and limited to specific periods of the year.
Long-term inflation is more dependent on parameters such as monetary policy, production costs, aggregate demand, as well as international economic events.
