September 8, 2017 / 4:17 PM / 10 months ago

Congo cenbank says prices rose 34.1 pct Jan - Aug

KINSHASA, Sept 8 (Reuters) - Congo’s central bank said on Friday that inflation stood at 34.1 percent for the period from the start of the year to the end of last month, giving no comparative figure for the same period of 2016.

Central bank governor Deogratias Mutombo told a news conference that the monthly inflation rate fell to 2.8 percent in August from 8.8 percent in July, but he gave no reason for the fall. He kept Congo’s growth forecast at 3.1 percent, up from 2.4 percent last year.

The franc currency is set to lose more than a third of its value this year, which has fuelled Congo’s worst inflation since the global financial crisis in 2009. The bank predicts prices will rise by more than 50 percent by the end of the year. (Reporting by Amedee Mwarabu; Writing by Tim Cocks; Editing by Hugh Lawson)

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