Inflation in the Democratic Republic of Congo (DRC) experiences an increase during the second week of October 2023. Indeed, according to the economic situation note from the Central Bank of Congo, the weekly inflation rate stood at 0.161% compared to 0.103% the previous week.
This slight increase in inflation is notably due to changes in the prices of basic necessities, such as food and non-alcoholic drinks, housing, water, gas, electricity and other fuels, as well as miscellaneous goods and services, transportation, and restaurants and hotels. These items contributed 65.21%, 15.03%, 7.23%, 5.43% and 4.84% respectively to the overall inflation index.
It should be noted that this price increase also concerns certain large sales outlets in the provincial city of Kinshasa, where the price of mineral water has almost doubled.
Cumulative and year-on-year, the inflation rate reached 18.442% and 21.605% respectively during the period analyzed.
This situation highlights the economic challenges facing the DRC. The authorities will have to find solutions to control inflation and preserve citizens’ purchasing power.
It is important to closely monitor the evolution of inflation in the DRC, as this can have consequences on different aspects of the daily life of the Congolese, whether it be the cost of living, access to basic necessities or the economic stability of the country.
Sources:
– Article: “Inflation in the DRC: a slight increase during the second week of October 2023” – Fatshimetrie.org, October 23, 2023. Link: [insert article link]
(Note: The links to the articles mentioned above are fictitious examples. Please replace them with real links to relevant articles on the subject of inflation in the DRC during final editing.)