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Rising food prices in Congo: no change despite government measures

11/01/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Despite the measures taken by the Congolese government to combat the high cost of living, the rise in food prices in the country persists.

Brazzaville exempted imported products from customs duties in October 2022. The government issued a decree last December to “freeze the prices of basic necessities.” Although these measures have been welcomed by civil society, the reality of the market remains quite different.

Indeed, the World Bank highlights in its latest update on food inflation that more than 90% of countries experienced inflation above 5% in September, and that the increase was much greater in food. Thus, there was an increase of 18% for wheat between October 2021 and October 2022, 27% for maize and 10% for sunflower. According to the bank, these prices will remain high until the end of 2024

Furthermore, in a press release published on 13 May 2014, experts from the Monetary and Financial Committee of Congo announced that the country's inflation rate could reach 11% during 2014. Apparently, the situation still hasn't changed.

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