The DRC, whose economy remains highly dependent on the mining sector, is subject to the vagaries of international prices and remains fragile. The growth outlook for this year is estimated at 6.1%, maintaining the momentum of 2021 (6.2%).

According to the World Bank, investment and exports in the mining sector remain the main drivers of growth, supported by improved mineral prices and increased public investment. The non-mining sectors (notably services) are expected to slow to 4.1% in 2022, down from 4.5% in 2021.

However, the Congolese economy remains vulnerable to fluctuations in commodity prices and the performance of its main trading partners, exposing it to disruptions related to geopolitical conflicts and the resurgence of the COVID-19 pandemic. Rising global energy and food prices due to the ongoing war in Ukraine are putting upward pressure on domestic inflation, pushing the average inflation rate from 9.1 percent in 2021 to about 9.5 percent in 2022. This situation is not sparing the prices of key food commodities on the market, which could harm household consumption, exacerbating poverty and inequality.

The World Food Programme (WFP) has noted relative stability in the prices of food products in the DRC since the beginning of May-22 in the various markets monitored, although the trend remains upward. Prices of the main imported food products, including vegetable oil, cereals, and others, are trending upward compared to the first quarter of 2022.

WFP's July Food Commodity Price Bulletin for the DRC indicates that the food basket price increased by 26 percent between July 2021 and July 2022. Also noteworthy is the 40 to 50 percent increase in the cost of maize flour and legumes in North and South Kivu for August, according to the same source. This increase is due to poor harvests in these provinces and the increase in the price of fuel, which has led to increased demand and decreased availability. The impact is most apparent in large urban cities such as Goma, which experienced a 26 percent increase in the value of the food basket between February 2022 and July 2022.

In this context, Target Sarl surveyed a representative sample of 1540 Congolese on attitudes toward price increases.

To learn more, the main results of this study will be presented during a webinar scheduled for Thursday, October 28, 2022, from 10:00 to 11:00 am in Kinshasa, and the channel of distribution of this conference is the digital platform Zoom.

Seats for the webinar are limited, so reserve yours now by registering here: https://forms.gle/H3TEnW3zbg2UFA6BA

Wednesday, October 19, 2022 - 11:17 am