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Haiti - Economy : Inflation 14.5% downward trend
21/07/2021 09:26:38

Haiti - Economy : Inflation 14.5% downward trend
The General Consumer Price Index (IPC base 100, 2017-2018 https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html recorded in May 2021 an increase of 1.0%, which constitutes a small increase compared to the monthly variation of 0.9% of the month of April. On the other hand, compared to the strong accelerations of last year the IPCcontinues to decelerate year on year reaching an increase of 14.5% in May against 16.0% in April (latest data available).

The monthly increase observed in May 2021 is mainly the result of the behavior of the following consumption indices:

"Food products and non-alcoholic drinks": (+ 1.0% over one month and 17.5% over one year);
"Articles of clothing and footwear" (1.5% over one month and 16.2% over one year);
"Furniture, household items and routine household maintenance" (1.4% over one month and 12.8% over one year);
"Health" (2.1% over one month and 23.0% over one year).

The products which recorded a more pronounced annual inflation are :

Food :
Rice on average (15.1%), meats (19.3%), herring on average (19.6%), powdered milk (21.1%), lemon (33.3%) and tomato (24.8%).

Clothing and footwear items :
Dress (18.9%), suit, universal jacket (16.3%), shirt (16.4%) and pants for men (17.6%).

Furniture, household items and routine household maintenance :
Living room furniture (20.7%), dining room (26.0%), bed (28.5%), ordinary tablecloth (22.8%) and laundry soap (12.2%).

Health :
medicines (25.9%) and glasses with corrective lenses (20.7%).

It should be noted that the Consumer Price Index for local products has varied by 14.0% on an annual basis, against 15.4% for imported products.

Consumer Price Index for the whole country by consumption function :

General index: 14.5% over one year and + 1.0% over the month of May 2021

Food and non-alcoholic beverages: month + 1.0%, year + 17.5%
Alcoholic beverages and tobacco: month 0.3%, year + 4.8%
Clothing and footwear: month + 1.5%, year + 16.2%
Housing, water, gas, electricity and other fuels: month + 1.1%, year + 11.3%
Furniture, household items and routine household maintenance: month + 1.4%, year + 12.8%
Health: month + 2.1%, year + 23.0%
Transport: month + 0.2%, year + 4.3%
Communications: month + 0.3%, year + 2.5%
Leisure: month + 0.5%, year + 8.6%
Education: month () year + 9.2%
Restaurants: month (0.1), year + 14.2%
Miscellaneous goods and services: month + 1.3%, year + 16.0%

Annual change in the IPC (inflation) :

IPC Global : 2020 May 23.3%; June 24.7%; July 25.7%; August 27.8%; September 25.1%; October 21.6%; November 20.1%; December 19.2%; 2021 January 18.7%; February 17.9%; March 17.2%. April 16.0%; May 14.5%

Local Products IPC : 2020 May 22.5%; June 23.9%; July 24.9%; August 26.5%; September 24.3%; October 21.7%; November 20.1%; December 19.1%; 2021 January 18.5%; February 17.3%; March 16.9%; April 15.7; May 14.1%.

IPC of imported products : 2020 May 24.8%; June 26.2%; July 27.1%; August 30.1%; September 26.6%; October 21.4%; November 20.0%; December 19.3%; 2021 January 19.0%; February 18.3%; March 17.5%; April 16.5%; May 15.4%.

IPC by geographic region (January 2021) :

In the regions, positive monthly variations between 1.0% and 1.1% are observed in all geographic regions of the country. However, the most significant variations are recorded in the regions: Metropolitan Area (14.9%), transversal (14.8%) and South 14.7%.

Metropolitan area: month + 1.0%, year + 14.9%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: month + 1.1%, year + 14.4%
(Departments of the Southeast and the West without the metropolitan area);

North: month + 1.0%, year + 13.5%
(Department of North, North East and North West);

South: month + 1.0%, year + 14.7%
(Department of South, Grande-Anse and Nippes);

Cross-sectional: month + 1.1%, year + 14.8%
(Department of Center and Artibonite).

HL/ HaitiLibre

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