Haiti - Economy : Acceleration of the rise in prices for 2 months - HaitiLibre.com : Haiti news 7/7
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Haiti - Economy : Acceleration of the rise in prices for 2 months
04/10/2021 10:29:28

Haiti - Economy : Acceleration of the rise in prices for 2 months
The acceleration of monthly price increases and the deceleration of year-on-year inflation have continued for 2 months. The General Consumer Price Index (CPI, 100 in 2017-2018) https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html went from 174.3 in July to 177.9 in August 2021. This resulted in a monthly increase of 2.1% in August, which is a strong variation especially after the increase of 2.0% recorded in July 2021. However, annual inflation continues to slow, reaching year-on-year 10.9% in August from 12.3% in July. (latest data available).

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

"Food products and non-alcoholic drinks" : + 2.0% over one month and 12.1% over one year;
"Articles of clothing and footwear" : 2.4% over one month and 12.6% over one year;
"Furniture, household items and routine household maintenance" 2.8% over one month and 12.1% over one year;
"Health" 2.2% over one month and 19.8% over one year.

Products with more pronounced annual inflation :

Food :
Rice (on average 15.6%), meats (on average 15.2%), herring (on average 18.2%), powdered milk (19.0%), edible oil (20.2%), lemon (24.0%), banana (15.7 %), peas (on average 12.3%) and sugar (on average 14.4%).

Articles of clothing and footwear :
Fabrics (13.1%), dress (15.3%), suit, universal jacket (10.6%), shirt (12.4%) and pants for men (12.7%), shoe, tennis (15.5%), sandals (16.4%) and shoes for children (14.1%).

Furniture, household items and routine household maintenance :
Living room furniture (18.9%), dining room (32.8%), bed (35.7%), ordinary tablecloth (29.8%) and refrigerator (14.1%).

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

It should be noted that a greater price increase was observed for imported products, ie 13.8% year-on-year against 9.3% for local products.

Consumer Price Index for the whole country by consumption function :

General index : 10.9% over one year and + 2.1% over the month of August 2021

Food and non-alcoholic beverages : month + 2.3%, year + 14.4%
Alcoholic beverages and tobacco month 0.6%, year ()%
Clothing and footwea : month + 2.3%, year + 12.6%
Housing, water, gas, electricity and other fuels: month + 1.5%, year + 10.4%
Furniture, household items and routine household maintenance : month + 2.2%, year + 12.1%
Health : month + 2.7%, year + 19.8%
Transport : month + 0.6%, year + 2.6%
Communications : month + 0.9%, year + 2.1%
Leisure : month + 0.5%, year + 5.5%
Education : month () year + 6.2%
Restaurants : month 5.6%, year + 17.5%
Miscellaneous goods and services: month + 2.5%, year + 11.6%

Annual change in the CPI (inflation) :

Global CPI : 2020 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%; July 12.3%; August 10.9%.

Local Products CPI : 2020 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%; July 10.8%; August 9.3%.

CPI of Imported Products f: 2020 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%; July 14.9; August 13.8%.

CPI by geographic region (January 2021) :

Finally, all regions contributed to the increase in inflation in August 2021 for the country as a whole. However, it should be noted that the most significant regional variations compared to August 2020 are observed for the Rest West, the South and the Metropolitan Area which posted 12.0%, 11.7% and 10.4% respectively.

Metropolitan area : month + 2.0%, year + 10.4%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West : months + 2.3%, year + 12.0%
(Departments of the Southeast and the West without the metropolitan area);

North : month + 1.9%, year + 10.6%
(Department of North, North East and North West);

South : months + 2.4%, year + 11.7%
(Department of South, Grande-Anse and Nippes);

Cross-sectional : month + 1.9%, year + 10.4%
(Department of Center and Artibonite).

HL/ HaitiLibre

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