Haiti - Economy : Annual inflation still rising reaches 18%

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Haiti - Economy : Annual inflation still rising reaches 18%
01/07/2019 09:41:55

Despite a slight slowdown in monthly inflation in price developments in May 2019, annualized inflation continues to accelerate. The new Consumer Price Index (CPI base 100, 2017-2018 https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html ) rose from 117.7 to 119.4, thus showing monthly increases of + 1.4% and + 18.0%, compared with 1.7% and 17.7% respectively last April https://www.haitilibre.com/en/news-27867-haiti-economy-record-inflation-at-177.html

This rise in inflation is due in particular to the highest increases in : Food and non-alcoholic beverages (+ 1.8% over one month and + 22.1% over one year), Health (+ 2.9% over one month and + 26.8%). % over one year), Leisure »(+3.0% over one month and + 27.1% over one year),« Restaurants »(+ 3.3% over one month and + 21.0% over one year) and« Miscellaneous goods and services »( +1.2% over one month and + 18.2% over one year).

Products that have seen the strongest year-on-year increase :

Food :
Imported rice (19.7%), ground corn (26.5%), biscuits (30.0%), meat (23.0% on average), hot dog (24.9%), fresh fish (23.5%), eggs (30.1%), evaporated milk (28.4%), orange (33.5%), chadec (46.7%), pineapple (30.5%), banana (25.8%), avocado (26.7%), papaya (41.2%), dry pea (25.1%), yam ( 31.1%), cassava (49.1%), potato (29.3%), true tree (43.8%), malanga (26.8%) and mirliton (33.0%).

Health :
Drugs (31.8%), glasses (21.9%) and hospitalization costs (17.7%).

Leisure :
Hobbies: computer (35.2%), television (30.6%), radio (30.7%) and television subscription (48.9%).

Restaurants :
Meals taken outside (21.0%)

Miscellaneous goods and services :
Toothpaste (19.0%), shampoo (25.9%), perfume, eau de toilette (23.0%) and watch (22.1%).

Prices for imported products continue to grow at a relatively high rate, 19.6% year-on-year. An almost similar trend is shown by local products, which grew 17.2% year-on-year.

Consumer Price Index (CPI) for the whole country by consumption function :

General index : + 18.0% over one year and + 1.4% for the month of May 2019

Food and non-alcoholic beverages: month 1.8%, year 22.1%

Alcoholic beverages and tobacco: month 1.8%, year 11.1%

Articles of clothing and footwear: month 2.9%, year 16.0%

Housing, water, gas, electricity and other fuels: month 1.0%, year 13.5%

Furniture, household goods and household maintenance: month 0.2% year 21.6%

Health: month 2.9%, year 26.8%

Transportation: months 0.4%, year 6.2%

Communications: month 0.2%, year 4.3%

Leisure: month 3.0%, year 27.1%

Lessons: months 0.0%, year 10.2%

Restaurants: month 3.3%, year 21.0%

Miscellaneous goods and services: month 1.2%, year 18.2%

Annual change in the CPI May 2018 to May 2019:

Global CPI :
2018: May 11.1%; June 11.7%; July 12.1%; August 12.7%; September 13.2%; October 14.4%; November 14.5%; December 2018 15.1%; 2019: January 15.5%; February: 17.0%; March 16.7%; April 17.7%; May 18.0%.

CPI of local products :
2018: May 11.1%; June 11.4%; July 11.8%; August 12.1%; September 12.4%; October 13.3%; November13.8%; December 2018 14.3%; 2019: January 15.2%; February 15.9% March 15.8%; April 16.8% and May 17.2%

CPI of imported products :
2018: May 11.0%; June 11.9%; July 12.7%; August 13.6%; September 14.0%; October 16.0%; November 16.8%; December 2018 17.3%; 2019: January 18.2%; February 19.0%; March 18.7% April 19.1% and May 19.6%

CPI by geographic region (May 2019) :
At the regional level, monthly increases in the CPI are recorded in all regions of the country for the month of April. It should be noted, however, that the most significant annualized regional variations were observed in the cross-border regions 19.0%, the Metropolitan Area 17.6% and the Rest West 17.5%

Metropolitan area: months +1.5%, year +17.6%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: month + 1.4%, year + 17.5%
(South-East and West departments without the metropolitan area);

North: months + 1.4%, year + 18.4%
(Department of North, North East and North West);

South: month + 1.5%, year + 18.3%
(Department of the South, Grande-Anse and Nippes);

Transversal: month + 1.5%, year +19.0%
(Department of the Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-27867-haiti-economy-record-inflation-at-177.html
https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html

HL/ HaitiLibre