RADP / Pulse Nigeria > News > business

Country's 2015 inflation rises to 2.7 pct yr-on-yr

February 16, 2016 7:25 AM

The International Monetary Fund has predicted that Cameroon's economy would grow by 5.2 percent in 2016, while the World Bank predicts growth of 6.2 percent this year.

A shopkeeper receives payment in a roadside kiosk in Senegal's capital Dakar, file. REUTERS/Ricci Shryock/Files

Cameroon's consumer inflation rate increased to 2.7 percent year-on-year in 2015, according to a report issued by the National Institute of Statistics on Monday.

The prices of alcoholic beverages and tobacco rose by 8.9 percent, of transport by 7.5 percent and hotel and restaurant services by 5.9 percent, the report said.

The increase in transportation costs stems from an end to government subsidies of fuel prices in July 2014.

Cameroon, the largest economy in central Africa, has an inflation ceiling of 3 percent. Inflation was 1.9 percent in 2014.

The International Monetary Fund has predicted that Cameroon's economy would grow by 5.2 percent in 2016, while the World Bank predicts growth of 6.2 percent this year.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!