Factory gate prices up 16% in Q2 2022, driven by the extractive sector

Factory gate prices in Cameroon increased by 16% year-on-year in Q2 2022, the national stats institute revealed in a recent industrial producer price index (IPPI). In Q1, the increase was 15%. These price hikes, INS said, were mainly driven by the extractive sector, which is still suffering “the global rise in hydrocarbon prices following the Russian-Ukrainian crisis and the post-Covid-19 recovery”. In this sector alone, factory gate prices have increased by 42.4%, against more than 30% in the first quarter, up 12.4% QoQ. The metallurgy and metal product manufacturing sector remains the second largest contributor with an increase of 1.6%, compared…