In a press release recently published by the National Institute of Statistics (INS) on the evolution of inflation during the first half of 2020, we can read that the general price level is 2.5% in the first half of this year. “Although up from the first half of 2019 when it was 2.4%. But it remains below the CEMAC standard which is 3%.”
In detail, the note informs that “the price increase observed in recent months was caused by that of food products (3.2%) due in particular to the soaring prices of fruits, vegetables, meats as well as sugars, jams, honey, chocolates and confectionery.”
Purchases of food products the day after the first series of restrictive measures taken in March 2020 by the government, as part of the response against Covid-19, are also for something although reduced from April ”, we read.
Also, in addition to food products, imported products and fresh products also experienced inflationary pressures.
As part of conservative measures, the National Institute of Statistics proposes to the government, in order not to reach the Community inflation threshold: “to continue to ensure that the market supply chain is kept active; to implement appropriate tax policies; to facilitate trade flows; to regulate the prices of products; to identify bottlenecks (transport, markets and liquidity) in order to match supply with changing demand.
Compared to the impact of the Coronavirus itself on prices, the newspaper which relies on the INS press release indicates that: “although the probability of a rapid surge in inflation induced by the coronavirus is rather limited in the short term, uncertainty increases over the days and the risk that inflation will persist or increase in the medium or long term is not excluded ”.
