Effectiveness of pricing policy in Cameroon
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How to preserve household purchasing power in a context of inflation? In Cameroon, this issue is a constant preoccupation for public authorities.Changes to the Central Bank's key interest rates, price controls and subsidies are the measures regularly taken by the State to address this issue. However, these measures, which come under the heading of price policy, clearly do not seem to solve the problem. This brief proposes a different analysis. Instead of a price policy, Cameroon should pursue a purchasing power policy. This policy consists of simultaneously monitoring the evolution of prices a...
How to preserve household purchasing power in a context of inflation? In Cameroon, this issue is a constant preoccupation for public authorities.Changes to the Central Bank's key interest rates, price controls and subsidies are the measures regularly taken by the State to address this issue. However, these measures, which come under the heading of price policy, clearly do not seem to solve the problem. This brief proposes a different analysis. Instead of a price policy, Cameroon should pursue a purchasing power policy. This policy consists of simultaneously monitoring the evolution of prices and incomes, and reassuring ourselves that at any given moment, incomes are evolving at least at the same pace as market prices, if not faster.The success of such an approach depends on the effective implementation of an import-substitution policy, and the development of instruments to break down the prices of goods and assess the optimal level of pass-through of raw material prices to domestic prices of goods and services.
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