Haiti - Economy : Sharp rise in inflation +3.5% in 2 months - HaitiLibre.com : Haiti news 7/7
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Haiti - Economy : Sharp rise in inflation +3.5% in 2 months
04/11/2021 10:08:19

Haiti - Economy : Sharp rise in inflation +3.5% in 2 months
The General Consumer Price Index (CPI, 100 in 2017-2018) https://www.haitilibre.com/en/news-34906-haiti-economy-acceleration-of-the-rise-in-prices-for-2-months.html went from 177.9 in August 2021 to 180.4 in September 2021. This resulted in a monthly increase of + 1.4% in September (+ 2.1% in August) and of 13.1% year-on-year (10.9% in August). This year-on-year acceleration of the CPI (+ 2.2%) can be explained, in part, by the sharp rise in the prices of imported products (over 17%).

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

"Food products and non-alcoholic drinks" : + 1.3% over one month and 14.7% over one year;
"Housing, water, gas, electricity and other fuels" (+ 2% over one month and 11.7% over one year;
"Education" + 5.0% over one month and 10.3% over one year).
"Health" + 2.7% over one month and 23.0% over one year.

Products with more pronounced annual inflation :

Food :
Rice (on average 21.8%), meat (on average 17.1%), powdered milk (20.9%), edible oil (27.9%), lemon (24.8%), banana (17.6%), peas (on average 14.9%) %) and sugar (on average 15.6%).

Housing, water, gas, electricity and other fuels :
Charcoal (17.8%) and propane gas (21.5%).

Education :
Teaching fees (10.3%).

Health :
Medicines (28.4%) and glasses with corrective lenses (17.5%).

It should be noted that a greater price increase was observed for imported products, ie 17.1% year-on-year against 10.9% for local products.

Consumer Price Index for the whole country by consumption function :

General index: 13.1% over one year and + 1.4% over the month of September 2021

Food and non-alcoholic beverages: month + 1.3%, year + 14.7%
Alcoholic beverages and tobacco: month 0.9%, year (1.9)%
Clothing and footwear: month + 0.9%, year + 13.6%
Housing, water, gas, electricity and other fuels: month + 2.0%, year + 11.7%
Furniture, household items and routine household maintenance: month + 1.0%, year + 14.2%
Health: month + 2.2%, year + 23%
Transport: month + 0.2%, year + 2.8%
Communications: month + ()%, year + 2.5%
Leisure: month + 2.9%, year + 10.3%
Teaching: month 5.0%, year + 10.3%
Restaurants: month 2.7%, year + 20.6%
Miscellaneous goods and services: month + 1.5%, year + 13.7%

Annual change in the CPI (inflation) :

Global CPI : 2020 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%; September 13.1%

Local Products CPI : 2020 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%; September 10.9%

CPI of imported products: 2020 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%; September 17.1%

CPI by geographic region (Septemre 2021) :

All the regions therefore contributed to the increase in inflation for the month of September 2021 for the country as a whole. It should be noted, however, that the most significant regional variations compared to September 2020 are observed for the Rest West and the South, which posted 14% and 13.8% respectively.

Metropolitan area : month + 1.4%, year + 12.6%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West : month + 1.5%, year + 14.0%
(Departments of the Southeast and the West without the metropolitan area);

North : month + 1.4%, year + 12.6%
(Department of North, North East and North West);

South : month + 1.5%, year + 13.8%
(Department of South, Grande-Anse and Nippes);

Cross-sectional : month + 1.4%, year + 12.8%
(Department of Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-34906-haiti-economy-acceleration-of-the-rise-in-prices-for-2-months.html

HL/ HaitiLibre

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