Luc Magloire Mbarga Atangana, Minister of Trade recommends that households tighten their belts. Reason being that, inflation is not yet under control.
Coronavirus crisis and crisis in Eastern Europe. These are the two factors that according to the Minister of Trade causes inflation in Cameroon.
The latter indicated that, following Covid-19, the price of a ton of wheat on the international market increased by 27.77% between 2020 and 2021. Maize has risen by more than 56%, palm oil by 53.8% and soya oil by more than 65.35%. In addition, the prices of building materials and fertilisers have also risen sharply.
Faced with this inflation, the Minister of Trade announced that the end of inflation is not anytime soon. Therefore, he recommends readjusting and adopting the solidarity of the economy. Group purchases he says, for example, will be for the benefit of traders who can buy at preferential prices and resell under the same conditions.
Specialised tontines, particularly in the food sector with the creation of granaries. The context requires us to review our way of life while waiting to give meaning to the concept of import-substitution.
In neighbouring Senegal, Macky Sall addressed the nation on the eve of the 62nd anniversary of the country’s independence day. While Muslims began Ramadan on Sunday 3 April and Christians are in the middle of Lent, the Head of State stressed the issues of food prices and food self-sufficiency.
The Senegalese president also detailed that he had lowered the prices of basic foodstuffs and increased the subsidy on local rice to help households.
“But to be protected from the vagaries of the international situation, we must show resilience by winning the battle for food sovereignty as soon as possible. The state continues to invest massively in the modernisation and diversification of the livestock, fisheries and agricultural sectors. Meeting the challenge of food self-sufficiency also means facilitating trade between production areas and markets.”