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In the Republic of the Congo, food prices continue to rise despite measures taken by the government to combat the high cost of living.
In October 2022, Brazzaville announced a decree exempting imports from tariffs and in December of the same year “freezing the prices of basic necessities.” While these measures were welcomed by civil society, the market reality is quite different.
“When the agents from the trade department arrive, they give the price. ’ exclaims the trader passionately.
“Traders need to follow up. While we were still paying customs, the cost of the bag was 9500 CFA, but now that it has been waived, it has risen to 14000 CFA. The Congolese state has sovereignty, people have to run, ”commented the housewife.
food overview
In its latest update on food inflation, the World Bank notes that more than 90% of countries experienced inflation above 5% in September, with the rise being much higher in food.
Wheat rose 18%, corn 27% and sunflower 10% between October 2021 and October 2022: Prices will remain high through the end of 2024, the Washington-based agency said. According to the French media “Le Monde”,
Africa’s seventh largest producer of black gold is unfortunately not spared. In Congo-Brazzaville, making one or two servings of sakasaka or ebenbe ya adura soup a day has become difficult for most families.
Despite its agricultural potential, the country is heavily dependent on imports, which cost nearly 700 billion CFA francs annually. Importers and wholesalers want more room to maneuver in the face of this tariff shield and avoid bankruptcy.
Prize Increase and Inflation
Congo’s Monetary and Financial Commission experts announced in a communiqué issued on 13 May 2014 that the country’s inflation rate could reach 11% during 2014. Since then, the situation has not changed much. The IMF’s latest forecast of global economic conditions predicts slowing economic growth, rising inflation and rising debt risks.
The Republic of the Congo’s return to positive growth in 2022 could be marked by a spike in inflation, which is expected to rise to 2.8% by the end of the year, according to official government data in the Medium-Term Debt Strategy. According to the national newspaper Les Dépesches de Brazzaville, inflation will be 3% in 2023 and remain so until 2024.
Jean-Claude Mabiara, president of the Consumer Rights Association, said in plain language:
“There is a problem with stocks of traders who were unable to sell stocks they bought before the exemption. If the price does not reflect what they are selling, it is a big mistake and if consumers have to react or otherwise they should contact the trade authorities to see if these We will arrest the dishonest traders.”
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