Tuesday, 23 August 2016

Buea, most expensive Cameroonian city during the first half of 2016

The National Institute of Statistics (INS) indicates that the final consumer prices for households increased by 1.3% during this first half of 2016 compared to the same period in 2015. The increase was of 3.4% a year ago.

Geographically speaking, consumer prices increased in every city during the past twelve months. The city of Buéa registered the highest price increase (3.1%) followed by Bamenda (2.7%), Bafoussam (2.0%), Ngaoundéré (1.9%) and Ebolowa (1.7%). The towns of Maroua (0.3%) and Bertoua (0.1%) had the lowest rates.

The increase in the general price level during the past twelve months is due in major part to the hike in the prices of alcoholic beverages and tobacco (7.4%), restaurant and hotel services (4.9%) and foodstuff and non-alcoholic beverages (2.1%). Beer prices increased by FCfa 50 to 100, breweries thus passing on the excise tax on alcoholic beverages introduced in the 2015 Finance Bill. The increase in service prices for restaurants and hotels worsened with these increases in industrial beer prices.

Source: Business In Cameroon

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