While disinflation gains traction across Cameroon, the national average conceals a profoundly unequal geography of prices. An analysis from the National Institute of Statistics (INS) on inflation trends in May 2026 reveals that five out of ten regional capitals are experiencing price increases above the 3% tolerance threshold set for the CEMAC zone, which comprises Cameroon, Congo, Gabon, Equatorial Guinea, Chad, and the Central African Republic. Nationally, the inflation rate settled at 2.7%, marking a notable decrease from the 3.3% recorded just one year prior.
Two-speed inflation across Cameroonian regions
The INS price hierarchy places Bertoua at the forefront, registering a 4.2% rise in the general price level across its markets. Following closely are Ngaoundéré (3.8%), Bafoussam (3.7%), Bamenda (3.6%), and Buea (3.2%). Yaoundé, the political capital, aligns precisely with the community threshold at 3%. At the other end of the spectrum, Garoua contained its price increase to 2.1%, ahead of Douala (2.4%) and Ebolowa (2.6%). Maroua, the administrative center of the Far North, presents the most striking anomaly, with prices declining by 0.7% over the month.
These pronounced disparities, as highlighted by the institute, stem from deep-seated structural factors. These include fluctuating transport costs, uneven availability of local produce, fragmented supply networks, and persistent logistical bottlenecks in specific areas. Essentially, the trajectory of prices remains intricately linked to the nation’s economic geography and the caliber of infrastructure connecting production hubs to urban markets.
Security risk premium impacts prices
Beyond purely statistical analysis, the map of inflation closely mirrors areas of insecurity. Bamenda and Buea, the regional capitals of the Anglophone North-West and South-West, have endured the repercussions of a separatist conflict since late 2016. This ongoing strife significantly disrupts agricultural output and commercial flows. Its effects frequently spill over into the neighboring West region, where Bafoussam serves as a key market. A similar dynamic is observed in Ngaoundéré and Bertoua, the main cities of Adamaoua and the East, two regions destabilized by recurrent incursions from armed groups originating in the Central African Republic and Chad, compounded by the influx of displaced populations.
In practical terms, insecurity drives up transportation expenses, diminishes marketable harvests, and compels intermediaries to increase their margins. A clear correlation emerges between zones of tension and inflationary surges, even if the relationship is not always direct or mechanical.
The Maroua paradox and the naira effect
However, the security-centric theory encounters a compelling exception. Maroua, the capital of the Far North, has been the city most exposed to the atrocities of the Nigerian Islamist sect Boko Haram since 2016. Yet, it stands as the sole city among the ten major urban centers studied to experience a price reduction in May 2026. The most plausible explanation lies in its proximity to neighboring Nigeria: the continuous depreciation of the naira renders imported goods, frequently entering through informal channels, exceptionally competitive against the CFA franc. This monetary differential acts as an inflationary buffer, transforming the porous border into a crucial valve for household purchasing power in the region.
On a macroeconomic scale, Cameroon is progressively emerging from the period of economic strain that began in late 2021. After peaking at 4.1% in the first half of 2025, national inflation receded to 2.1% in April 2026 before slightly rebounding to 2.7% in May. The year-on-year comparison confirms a significant moderation: the overall rise in prices has been substantially reduced over twelve months, allowing the country to fall below the community standard.
For the Bank of Central African States (BEAC), which oversees monetary policy in the sub-region, this convergence towards the target provides new room for maneuver. Nevertheless, the persistence of localized inflationary pockets, particularly in areas vulnerable to security crises, serves as a stark reminder that merely restoring nominal economic balances will not suffice to fully restore purchasing power across all regions of the country.
