Lubumbashi: Rising prices of goods after the depreciation of the Congolese franc
In November, prices of essential commodities have taken the elevator in the city of Lubumbashi in the wake of the depreciation of the Congolese franc against the US dollar.

A unit of bread that used to cost 1000 CDF (1, 04 US dollar) currently amounts to 1500 CDF (1, 56 USD). Some bakers did not increase the price of bread but they just reduced their production volumes. "Previously, we bought bread at 1000 CDF. The water bottle worth 500 CDF currently costs 700 CDF or 750 CDF. When it starts like this, carriers are trying to follow. It will be impossible", complained a buyer to Radio Okapi. A bunch of vegetables amounts to 500 CDF ($ 0.52) instead of 300 CDF ($ 0.31), thus reflecting an increase of 60%. Certain stores and shops in Lubumbashi even decided to stop indicating the prices of products. This upward revision in prices is due to the depreciation of the Congolese franc against the US dollar. The exchange rate is no more stable. Wholesalers give 1190 CDF for one US dollar. The depreciation of the Congolese franc significantly reduced the purchasing power of people who earn a low income and are paid in the local currency.

Sourc : Radio Okapi

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