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Haiti - Economy : Inflation inexorably continues its rise
14/10/2019 09:36:44
Prices continued to rise in August 2019, 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 ) went from 123.5 (June) to 125.5 in August showing a monthly increase of + 1.6% and +19.5 % over 12 months, compared to + 1.6% and + 19.1%, respectively, in July 2019 https://www.haitilibre.com/en/news-28646-haiti-flash-inflation-explodes-and-approaches-20.html
This upward variation comes from almost all consumption indices, the most important of which are : "Food products and non-alcoholic beverages" (+ 1.5% over one month and + 22.46% over one year); "Articles of clothing and footwear" (+ 3.2% over one month and 21.1% over one year); "Furniture, household items and household maintenance" (+ 0.7% over one month and + 20.5% over one year); "Health" (+ 2.2% over one month and + 27.8% over one year); Leisure activities "(+ 3.1% over one month and + 29.6% over one year) and" Restaurant "(+ 5.1% over one month and + 29.0% over one year).
Products that have seen the strongest year-on-year hikes :
Food :
Local rice (+19.7%), imported rice (+21.0%), grain corn (+30.0%), ground corn (+30.4%), millet (+ 24.4%), wheat / flour (+ 21.0%), bread (+ 24.1%), meat on average (+ 26.1%), hot dog (+ 26.7%), fresh fish (+ 25.7%), eggs (+ 30.9%), milk on average (+ 27.7%), edible oil ( + 22.8%), orange (+ 36.6%), chadèque (+ 49.0%), lemon (+ 23.9%), mango (+ 34%), papaya (+ 40.4%), dry peas (+ 28.7%), yams (+ 31.6%), bananas (+ 30.6%), potatoes (+ 28.1%), true trees (+ 39.6%) and malanga (+ 28.8%).
Health :
Drugs (+ 33.9%), glasses (+ 31.7%) and hospitalization costs (+ 25.8%).
Articles of clothing and shoes :
Clothing (+ 31.2%), dress (+ 28.5%), tights (+ 18.3%), shirts (+ 26.8%), men's trousers (+ 26.4%) and children's shoes (+ 28.6%).
Furniture, household items and household maintenance :
Living room furniture (+ 32.0%), bed (+ 28.8%), mattress (+ 22.4%), generator (+ 38.0%), fridge (+ 43.8%) and fan (+ 37.0%).
Restaurants : Meals taken outside (+ 30.9%)
Year-over-year local product inflation is slightly lower than the CPI Global, at + 1.6% and + 19.2%, respectively at monthly and annual rates. On the other hand, in spite of a certain deceleration observed on a monthly basis (1.5% against 1.8% previously), the inflation of the imported products continues its annual acceleration with a variation of + 20.2%.
consumer Price Index for the whole country by consumption function :
General index : + 19.5% over one year and + 1.6% for the month of August 2019
- Food and non-alcoholic beverages: month +1.5%, year +22.6%
- Alcoholic beverages and tobacco: month +1.4%, year +13.3%
- Articles of clothing and footwear: month + 3.2%, year +21.1%
- Housing, water, gas, electricity and other fuels: months + 2.1%, year + 17.3%
- Furniture, household goods and household maintenance: months + 0.7% year + 20.5%
- Health: month +2.2%, year +27.8%
- Transportation: months + 0.6%, year + 7.5%
- Communications: months + 0.4%, year + 4.1%
- Hobbies: months +6.0%, year +38.7%
- Teaching: month 0.0%, year + 10.2%
- Restaurants: months +5.1%, year +29.0%
- Miscellaneous goods and services: month +0.9%, year +18.0%
Annual change in the CPI August 2018 to August 2019 :
Global CPI :
2018: 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%; June 18.6%; July 19.1%; August 19.5%
CPI of local products :
August 2018 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%; June 18.0%; July 18.5%; August 19.2%
CPI of imported products :
August 2018 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%; June 20.0%; July 20.2%; August 20.2%
CPI by geographic region (August 2019) :
Monthly upward variations in inflation at the regional level are observed in all geographic regions of the country. It should be noted, however, that the most significant annualized regional variations (over 12 months) were observed in the South (+ 20.4%), the Metropolitan Area (+ 19.8%) and the Transversal Region (+ 19.4%). The Nord and Rest Ouest regions come immediately after, with respective growth rates of + 19.1% and + 18.8%.
Metropolitan area: months +1.5%, year +19.8%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);
Rest West: months + 1.7%, year +18.8%
(South-East and West departments without the metropolitan area);
North : month + 1.6%, year +19.1%
(Department of North, North East and North West);
South : months + 1.7%, year +20.4%
(Department of the South, Grande-Anse and Nippes);
Transversal: month + 1.6%, year +19.4%
(Department of the Center and Artibonite).
NOTE : Due to the prevailing insecurity situation in the country, the Haitian Institute of Statistics and Informatics (IHSI), was not able to report the data from August earlier. 2019 and apologizes for it.
See also :
https://www.haitilibre.com/en/news-28646-haiti-flash-inflation-explodes-and-approaches-20.html
https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html
HL/ HaitiLibre
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