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Haiti - Economy : Annual inflation at 21.6%, down
14/12/2020 08:09:14

Haiti - Economy : Annual inflation at 21.6%, down
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 ) increased to 159.6 in September 2020
to 157.7 in October, a monthly drop of (-1.2%) and year-on-year inflation of 21.6% or (-3.5%).

This decrease in inflation comes from the drop in almost all consumption indices, the most important of which are :

"Food products and non-alcoholic drinks": (-1.0% over one month and 26.4% over one year);
"Articles of clothing and footwear": (- 1.9% over one month and 24.6% over one year);
"Furniture, household items and routine household maintenance": (-2.0% over one month and 18.5% over one year);
"Miscellaneous goods and services": (-2.3% over one month and 17.5% over one year).

The products that recorded the most pronounced annual inflation are :

Food :
Local rice (21.6%), imported rice (20.8%), ground corn (24.0%), herring on average (29.1%), cod (32.4%), milk on average (22.4%), cloves (24.0%) and coffee powder (20.1%).

Articles of clothing and footwear :
Dress (22.2%), tights (17.8%), pants, sheath (23.2%), men's t-shirt (21.4%), shirt (19.0%) and shoes and tennis (28.4%).

Furniture, household items and routine household maintenance :
Propane gas (25.0%), dining room (23.9%), mattress (20.5%), curtains (22.4%), inverter (22.3%) and refrigerator (24.9%).

Miscellaneous goods and services :
Toilet soap (15.7%), body cream (14.0%) and watch (13.9%).

It should be noted that the prices of local products have varied respectively by -0.5% and 21.7% in monthly and annual rates, while the prices of imported products have declined more sharply in monthly rates of -2.4% and annual rates of 21.4%.

Consumer Price Index for the whole country by consumption function:

General index : + 21.6% over one year and -1.2% for the month of October 2020

  • Food and non-alcoholic beverages: month -1.0%, year + 26.4%
  • Alcoholic beverages and tobacco: month -1.9%, year + 13.7%
  • Articles of clothing and footwear: month -1.7%, year + 24.6%
  • Housing, water, gas, electricity and other fuels: month -1.2%, year + 16.7%
  • Furniture, household items and routine household maintenance: month -2.0%, year + 18.5%
  • Health: month -1.1%, year + 36.7%
  • Transport: month -1.2%, year + 8.4%
  • Communications: month -1.2%, year + 4.4%
  • Leisure: month -1.4%, year + 13.2%
  • Education: year + 10.0%
  • Restaurants: month -2.5%, year + 21.6%
  • Miscellaneous goods and services: month -2.3%, year + 17.5%

Annual change in the CPI (inflation) :

CPI Global : October 2019 20.0%; November 20.4%; December 20.8%; January 2020 20.7%; February 20.8%; March 22.0%; April 22.4%; May 23.3%; June 24.7%; July 25.7%; August 27.8%; September 25.1%; October 21.6%

Local Products CPI : October 2019 19.5%; November 20.1%; December 20.4%; January 2020 20.3%; February 20.4%; March 21.5%; April 21.5%; May 22.5%; June 23.9%; July 24.9%; August 26.5%; September 24.3%; October 21.7%

CPI of Imported Products : October 2019 20.8%; November 21.2%; December 21.5%; January 2020 21.5%; February 21.6%; March 23.0%; April 24.0%; May 24.8%; June 26.2%; July 27.1%; August 30.1%; September 26.6%; October 21.4%

CPI by geographic region (October 2020) :

Regional downward monthly variations in inflation are observed in all geographic regions of the country. It should be noted that the most pronounced negative inflations were especially observed in the regions of the Metropolitan and Transversal Area (-1.2% over one month) and North and South (-1.3%).

Metropolitan area: month -1.2%, year + 21.9%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: month -1.1%, year + 21.4%
(Departments of the Southeast and the West without the metropolitan area);

North: month -1.3%, year + 21.4%
(Department of North, North East and North West);

South: month -1.3%, year + 20.9%
(Department of South, Grande-Anse and Nippes);

Transversal: month -1.2%, year + 21.8%
(Department of Center and Artibonite).

HL/ HaitiLibre

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