August 16, 2017 / 1:05 PM / a month ago

Congo central bank sees 2017 inflation rising to 48 percent

(Reuters) - Democratic Republic of Congo’s central bank said on Wednesday it expects inflation to stand at 48 percent by the end of this year, up from an earlier estimate of around 44.6 percent, and nearly double last year’s rate of 25 percent.

Persistently low commodity prices and high government deficits have caused the franc currency in Africa’s top copper producer to shed more than 30 percent of its value in the past year and driven accelerating inflation.

Reporting By Aaron Ross; Editing by Tim Cocks

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