Haiti - Economy : Inflation in the country, approaching 10% - HaitiLibre.com : Haiti news 7/7

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Haiti - Economy : Inflation in the country, approaching 10%
27/07/2011 10:29:45

Haiti - Economy : Inflation in the country, approaching 10%
According to the Haitian Institute of Statistics and Informatics, the index of consumer prices has evolved upwards compared to 2010. From 7.9% in April, the inflation rate year on year increased to 8.4% in May and 9.3% in June 2011.

The spring harvest below expectations in the different agro-ecological zones of the country, caused a significant reduction in domestic agricultural production this year, so the availability of local food, the prices of basic foodstuffs remain high in July and all suggests that they will not fall over the coming months.

On the markets of Cap-Haitien and Jacmel, black beans has increased by 41% and 8% respectively. The price of imported rice is declining compared to 2010, but increase compared to May 2011. Cooking oil is rising in all markets, with the exception of Cap-Haitien. By cons, corn is down or stable in most markets. Compared to the second quarter [April-June 2010], prices are rising during the corresponding quarter in 2011.

The prices are also influenced by the bad weather that will continue to occur and which are likely to aggravate the already precarious living conditions of the population. Besides the weather that affects agricultural activities, the manifestation of a series of institutional and political crisis creates uncertainty among economic actors. The country expects a new government for over 2 months. The environment is not conducive to new investments that would reduce unemployment of the labor force estimated at ± 60%. Finally, the "friendly countries" that fund two thirds of the national budget, seem to expect the new Government to honor their commitments.

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