Title: The inflation rate in the Democratic Republic of Congo sees a slight decline in September 2023
Introduction :
The economy of the Democratic Republic of Congo (DRC) continues to evolve despite the challenges facing the country. During the first week of September 2023, the weekly inflation rate recorded a slight decline, according to information communicated by Madam Governor of the Central Bank of Congo (BCC), Malangu Kabedi Mbuyi, during the meeting weekly meeting of the Council of Ministers.
Evolution of the inflation rate:
According to data presented by Malangu Kabedi, the weekly inflation rate increased from 0.19% to 0.18% as of September 1, 2023. A slight decrease which reflects a certain stability, although challenges persist in the country .
At the monthly level, the inflation rate experienced a significant change, going from 5.75% in July to 0.86% at the end of August 2023. This drop is largely explained by the coordination of economic policies put in place. . On an annual basis, the inflation rate stood at 17.48% as of September 1, 2023.
Future prospects:
Despite this encouraging drop in the inflation rate, it is important to emphasize that certain essential products have seen a significant increase in their prices on the markets. Sellers attribute this increase to the instability of the exchange rate between the Congolese franc and the American currency.
However, the Governor of the Central Bank of Congo remains optimistic about the future. It forecasts a further slowdown in the inflation rate, from 8.8% in 2022 to 6.8% in 2023, due to the tightening of monetary policies of major central banks across the world. Furthermore, it is anticipated that the effects of these policies will continue to slow inflation in 2024 and 2025.
Conclusion :
The Democratic Republic of Congo faces economic challenges, but recent figures indicate a slight improvement in terms of inflation rates. The country continues to work to strengthen its economic stability and create an environment favorable to growth. Despite the price increases observed in certain essential products, the medium and long term outlook remains encouraging. The Congolese economy is constantly evolving and controlling inflation is a key issue to ensure the well-being of the population.