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Haiti - Economy : The rise in prices in monthly rhythm accelerates
09/08/2021 11:00:04

Haiti - Economy : The rise in prices in monthly rhythm accelerates
An acceleration in the rise in prices on a monthly basis and the deceleration in inflation year-on-year, these are the main findings of the evolution of the General 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 in June 2021.

The CPI increased by 1.3% in June 2021, a much higher rate than the variation of 1.0% recorded the previous month https://www.haitilibre.com/en/news-34285-haiti-economy-inflation-145-downward-trend.html . the CPI rose from 168.7 in May to 170.8 in June. On the other hand, compared to the strong accelerations of last year, the CPI continues its deceleration reaching an increase of 12.7% in June (year-on-year) against 14.5% in May (latest data available).

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

éFood products and non-alcoholic drinksé: (+ 1.4% over one month and 15.0% over one year);
"Articles of clothing and footwear" (1.8% over one month and 15.0% over one year);
"Furniture, household items and routine household maintenance" (1.8% over one month and 12.3% over one year);
"Health" (2.4% over one month and 22.1% over one year).

The products which recorded a more pronounced annual inflation are :

Food :
Rice (on average 14.7%), meats (on average 16.9%), fresh fish (17.2%), herring on average (17.9%), powdered milk (20.0%), edible oil (16.2%), lemon (30.3%) ), green peas (20.0%), dry peas (20.5%), tomato (21.2%) and banana (21.0%).

Articles of clothing and footwear :
Dress (18.1%), suit, universal jacket (14.4%), shirt (14.5%) and pants for men (15.5%).

Furniture, household items and routine household maintenance :
Living room furniture (20.2%), dining room (24.2%), bed (29.1%), ordinary tablecloth (25.5%) and refrigerator (16.5%).

Health :
Medicines (25.1%) and glasses with corrective lenses (18.8%).

It should be noted that the Consumer Price Index for local products has varied by 11.8% year-on-year, against 14.2% for imported products.

Consumer Price Index for the whole country by consumption function :

General index: 12.7% over one year and + 1.3% over the month of June 2021

Food and non-alcoholic beverages: month + 1.4%, year + 15.0%
Alcoholic beverages and tobacco: month 0.6%, year + 3.3%
Clothing and footwear: month + 1.8%, year + 15.0%
Housing, water, gas, electricity and other fuels: month + 0.6%, year + 9.5%
Furniture, household items and routine household maintenance: month + 1.8%, year + 12.3%
Health: month + 2.4%, year + 22.1%
Transport: month + 0.3%, year + 3.3%
Communications: month + 0.4%, year + 1.9%
Leisure: month + 0.7%, year + 7.6%
Education: month () year + 7.5%
Restaurants: month 5.0%, year + 15.2%
Miscellaneous goods and services: month + 1.6%, year + 12.3%

Annual change in the CPI (inflation) :

CPI Global: 2020 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%; June 12.7%.

Local Products CPI: 2020 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; June 11.8%.

CPI of imported products: 2020 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%; June 14.2%.

CPI by geographic region (January 2021):

In the regions, positive monthly variations between 1.2% and 1.3% are observed in all geographic regions of the country. However, the most significant variations are recorded in the regions: transverse 13.1%. West 12.8% and South 12.7%.

Metropolitan area: month + 1.2%, year + 12.8%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: month + 1.33%, year + 12.6%
(Departments of the Southeast and the West without the metropolitan area);

North: month + 1.3%, year + 11.9%
(Department of North, North East and North West);

South: month + 1.2%, year + 12.7%
(Department of South, Grande-Anse and Nippes);

Cross-sectional: month + 1.3%, year + 13.1%
(Department of Center and Artibonite).

Previous month :
https://www.haitilibre.com/en/news-34285-haiti-economy-inflation-145-downward-trend.html

HL/ HaitiLibre

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