Consumers in the Democratic Republic of Congo are seeing lower prices on basic goods as the Congolese franc strengthens against the U.S. dollar, according to Radio Okapi and the Congolese Press Agency (ACP). The trend affects staple items including sugar, maize, beans, salt, cement, milk, vegetable oil, semolina, cassava, and canned tomatoes.
Journalists accompanying the Ministry of Economy on market visits reported sharp declines at Ngaba, a key commercial hub:
∙50 kg bag of maize: 230,000 FC to 170,000 FC
∙Small measure (ekolo) of maize: 3,500 FC to 2,200 FC
∙Sugar bag: 18,000 FC to 15,000–15,500 FC
∙25 kg bag of Lion rice: 65,000 FC to 55,000 FC
∙Bag of semolina: 65,000 FC to 47,000–49,000 FC
At Zigida market, traders confirmed similar drops:
∙BB rice bag: 65,000 FC to 59,000 FC
∙Regina oil container: 32,000 FC to 28,000 FC
∙Cube magic seasoning: 10,000 FC to 8,500 FC
∙Lion tomato carton: 50,000 FC to 43,000 FC
∙Gray cement bag: 30,000 FC to 26,000–27,000 FC
On the parallel foreign exchange market, the U.S. dollar trades between 2,500 and 2,600 FC, thanks in part to the Central Bank of Congo’s efforts to absorb excess liquidity. Economists cite both a net outflow of foreign currency and lower local demand for dollars as driving the franc’s strength.
ACP also reported an 8 percent drop in the price of a 9 kg carton of salted fish from Namibia, from 218,000 FC to 200,000 FC on October 2. Bakeries in Kinshasa have also passed on savings to customers. The popular “Kanga Journée” bread fell from 500 FC to 400 FC, while the “pistolet” bread went from 400 FC to 300 FC.
M&B