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Haiti - Economy : Inflation explodes the 23% mark
27/07/2020 09:54:16

Haiti - Economy : Inflation explodes the 23% mark
After a 9-month hiatus, the Haitian Institute of Statistics and Informatics (IHSI) has resumed the publication of its indices and has just made available the Consumer Price Index for the month of May 2020

Prices continued to increase during the month of May 2020, 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 to 147.2 in May 2020 showing an increase of 2.3% over one month and + 23.4% over 12 months, compared with + 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 stems from almost all consumption indices, the most important of which are: “Food products and non-alcoholic beverages” (2.5% over one month and 27.1% over one year); "Articles of clothing and footwear" (2.1% over one month and 29.9% over one year); “Housing, Water, Gas, Electricity and Other fuels” (2.3% over one month and 20.9% over one year); “Furniture, household items and household items” (2.3% over one and 20.1% over one year); “Health” (4.2% over one month 44.6% over one year) and “restaurants” (2.5% over one month and 25.6% over one year).

Products which experienced the strongest increases over the year :

Food :
Rice on average (+ 28.4%), ground corn (+ 30.3%), millet (+ 32.5%), meat on average (+ 20%), Herring on average (+ 34.6%), cod (+ 36.5%), powdered milk (+ 32.7%), banana (+ 39.5%), coconut (+ 23.7%), peas on average (+ 34.6%) , carrots (+ 27.8%) and tomatoes (+ 31.9%).

Health :
Medicines (+48.1), glasses with corrective lenses (+ 46%).

Articles of Clothing and Footwear :
Clothing manufacturing (+ 31.3%), Dress (+ 26.1%), Shirt (+ 27%) and trousers for men (28.3%).

Restaurants :
Meals eaten outside (+ 25.6%).

Housing, Water, Gas, Electricity and other fuels :
Propane gas (+ 40%), Charcoal (+ 34.9%).

Furniture, Household items and Routine household maintenance :
Bed linen (+ 23.4%), towels (+ 24.2%), Inverter (+ 29.6%), refrigerator (+ 34.2%), fan (+ 24.2%) and detergent (+ 20.6%).

The inflation of local products year-on-year increased by + 2.2% monthly and 23.4% year-on-year while the acceleration in the prices of imported products is greater than that of local products with monthly increases of +2 , 3% and annual + 24.8%.

Consumer Price Index for the whole country by consumption function :

General index: + 23.4% over one year and + 2.3% for the month May 2020

  • Food and non-alcoholic beverages: month + 2.3%, year + 23.4%
  • Alcoholic beverages and tobacco: month + 2.5%, year + 27.1%
  • Articles of clothing and footwear: month + 2.1%, year + 14.6%
  • Housing, water, gas, electricity and other fuels: month + 2.3%, year + 20.9%
  • Furniture, household items and routine household maintenance: month + 2.3% year + 20.1%
  • Health: month + 4.2%, year + 44.6%
  • Transport: month + 1.0%, year + 11.1%
  • Communications: month + 0.5%, year + 4.1%
  • Leisure: month + 2.0%, year + 28.5%
  • Education: month 0.7%, year + 8.8%
  • Restaurants: month + 2.5%, year +25. %
  • Miscellaneous goods and services: month + 1.2%, year + 15.0%

Annual change in the CPI :
May 2019: 119.4; March 2020: 141.2; April 2020: 144.0; May 2020: 147.2

CPI by geographic region (May 2020) :
Monthly upward variations in regional inflation are observed in all geographic regions of the country. However, it should be noted that the most significant annualized regional variation (over 12 months) was observed in the South (+ 23.6%)

month + 2.5%, year + 23.3%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquets);

Rest West : month + 2.5%, year + 23.2%
(Departments of the Southeast and the West without the metropolitan area);

North : month + 2.0%, year + 23.1%
(Department of North, North East and North West);

South : month + 1.9%, year + 23.6%
(Department of South, Grande-Anse and Nippes);

Transversal : month + 2.2%, year + 23.3%
(Department of Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-29002-haiti-economy-inflation-inexorably-continues-its-rise.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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