While disinflation appears to be taking hold across Cameroon, the national average conceals significant regional price disparities. My recent analysis of the National Institute of Statistics (INS) report for May 2026 reveals that five out of ten regional capitals are experiencing inflation rates above the 3% tolerance threshold set for the CEMAC zone, which includes Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic. Nationally, the inflation indicator stood at 2.7%, a notable decrease from the 3.3% recorded twelve months prior.
Cameroon’s regional inflation: a tale of two economies
The INS data paints a clear picture of price hierarchy, with Bertoua registering the highest general price increase at 4.2% across its markets. Following closely are Ngaoundéré at 3.8%, Bafoussam at 3.7%, Bamenda at 3.6%, and Buea at 3.2%. Yaoundé, the political capital, aligns precisely with the community’s upper limit at 3%. Conversely, some regions show more contained increases: Garoua recorded a modest 2.1% rise, ahead of Douala at 2.4% and Ebolowa at 2.6%. Maroua, the administrative center of the Far North, presents a striking anomaly with a 0.7% price decline over the month.
These significant discrepancies, as highlighted by the institute, stem from various structural elements. Factors such as fluctuating transportation costs, inconsistent availability of local produce, fragmented supply networks, and persistent logistical bottlenecks in specific areas all contribute. Essentially, price movements remain intricately tied to Cameroon’s economic geography and the effectiveness of infrastructure connecting production hubs to urban markets.
Security risks drive up prices in vulnerable regions
Beyond purely statistical analysis, the landscape of inflation often mirrors that of insecurity across Cameroon. Bamenda and Buea, the regional capitals of the Anglophone North-West and South-West, have been grappling since late 2016 with the consequences of a separatist conflict, severely disrupting agricultural output and commercial activities. This instability frequently spills over into the neighboring West region, with Bafoussam acting as a primary commercial hub. A similar dynamic impacts Ngaoundéré and Bertoua, the main cities of Adamaoua and the East, respectively. These regions face destabilization from recurrent incursions by armed groups originating from the Central African Republic and Chad, compounded by significant influxes of displaced populations.
In practical terms, this pervasive insecurity escalates transportation expenses, diminishes marketable harvests, and drives up profit margins for intermediaries. The correlation between these hotbeds of tension and subsequent inflationary surges is evident, even if the relationship isn’t always direct or automatic.
Maroua’s unique price dynamics and the naira effect
However, the security-driven inflation theory encounters a notable exception in Maroua. As the capital of the Far North, Maroua has been the city most vulnerable to attacks by the Nigerian Islamist group Boko Haram since 2016. Yet, it stands alone among the ten major cities surveyed, experiencing a price decrease of 0.7% in May 2026. The most likely explanation lies in its close proximity to neighboring Nigeria. The continuous depreciation of the Nigerian naira makes imported goods, frequently brought in through informal channels, exceptionally competitive when compared to products priced in the CFA franc. This monetary differential acts as an inflation buffer, effectively transforming the porous border into a crucial valve for the purchasing power of households in the region.
On a macroeconomic level, Cameroon is gradually emerging from a period of economic tensions that began in late 2021. Following a peak of 4.1% in the first half of 2025, national inflation receded to 2.1% by April 2026, before slightly increasing to 2.7% in May. An annual comparison confirms this moderation: the overall rise in prices has been significantly reduced over the past twelve months, allowing the nation to fall back below the community standard.
For the Bank of Central African States (BEAC), which steers monetary policy for the sub-region, this convergence towards the inflation target offers new operational flexibility. However, the ongoing presence of localized inflationary pockets, particularly in areas vulnerable to security crises, serves as a stark reminder that simply re-establishing nominal economic balances will not be enough to fully restore purchasing power across all parts of the country. This highlights the complex challenges facing the African economy today.
