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Haiti - Economy : Inflation accelerates and reaches 25.2%
18/04/2022 09:38:29

Haiti - Economy : Inflation accelerates and reaches 25.2%
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 204.9 in February 2022 https://www.haitilibre.com/en/news-36179-haiti-economy-annual-inflation-24.html against 200.8 in January 2022.

This results in a monthly variation of +2.1% and 25.2% year-on-year compared to +0.6% and 24% respectively the previous month…

It should be recalled that in its framework letter for the amending budget for the second half of the 2021-2022 fiscal year, the Government bases its forecasts on an inflation rate of 27.3% year-on-year.

Download the framework letter (PDF) : https://www.haitilibre.com/docs/lettre-cadrage-du-projet-de-budget-2021-2022.pdf

The monthly increase observed in February 2022 is mainly the result of the behavior of the following consumption indices:

"Food products and non-alcoholic beverages": +3.2% over one month or 25.9% over one year;
"Clothing and footwear": +2.6% over one month or 26.6% over one year;
"Housing, water, gas, electricity and other fuels": +3.1% over one month or 28.6% over one year;
"Health": +1.2% over one month, i.e. 25.2% over one year;
"Transport": +6.3% over one month or 30.2% over one year.

Products with more pronounced annual inflation :

Food :
Rice (on average 36.1%), bread (30.3%), meat (23.2%), milk (27.9%), edible oil (62.2%), lemon (20.5%) and sugar (27.4%).

Clothing and footwear :
Shirt (27.0%), pants for men (26.1%), shoes, sneakers (34.1%) and sandals (28.2%).

"Housing, water, gas, electricity and other fuels" :
Housing rent (average 20.4%), water (40.2%), charcoal (33.6%), propane gas (58.0%), kerosene (119.8%)

Health :
Medicines (on average 29.7%) and glasses with corrective lenses (20.7%).

Transportation :
Private vehicle maintenance (36.9%) and petrol and diesel (66.6%).

A higher price increase was observed at the level of imported products, i.e. 33.0% year-on-year against 19.1% for local products.

Consumer Price Index for the whole country by consumption function :

General index : 25.2% over one year and +2.1% in February 2022

Food and non-alcoholic beverages: month 1.6%, year 25.9%
Alcoholic beverages and tobacco: month (0.1%) , year (12.0)%
Clothing and footwear: month 2.6%, year 26.6%
Housing, water, gas, electricity and other fuels: month 3.1%, year 28.6%
Furniture, household items and routine household maintenance: month 1.4%, year 23.1%
Health: month 1.2%, year 25.2%
Transport: month 6.3%, year 30.2%
Communication: month 0.3%, year 4.7%
Leisure: month 0.8%, year 13.8%
Education: month (), year 9.0%
Restaurants: month (1.3%), year 31%
Miscellaneous goods and services: month 0.9%, year 24.4%

Annual change in the CPI (inflation) :

Global CPI : 2021 February 17.9%; March 17.2%. April 16.0%; May 14.5%; June 12.7%; July 12.3%; August 10.9%; September 13.1%; October 19.7%; November 24.6%; December 24.7% 2022 January 24.0%; February 25.2%

CPI for Local Products : 2021 February 17.3%; March 16.9%; April 15.7; June 11.8%; July 10.8%; August 9.3%; September 10.9%; October 16.2%; November 20.4%; December 19.7% 2022 January 19.1%; February 20.2%

CPI of Imported Products : 2021 February 18.3%; March 17.5%; April 16.5%; June 14.2%; July 14.9; August 13.8%; September 17.1%; October 26.1; November 32.3%; December 33.7% 2022 January 33.0%; February 34.2%

CPI by geographic region (February 2022) :

A higher price increase was observed at the level of imported products, i.e. 34.2% year-on-year against 20.2% for local products.

Metropolitan area : year 24.6% (+2.2% over 1 month)
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West : year 26.7% (+2.0% over 1 month)
(South-East and West Departments without the metropolitan area);

North : year +23.9% (+2.0% over 1 month)
(North, North East and North West Department);

South : year +26.9% (+2.0% over 1 month)
(Department of the South, Grande-Anse and Nippes);

Transversal : year +24.3% (+1.9% over 1 month)
(Department of Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-36179-haiti-economy-annual-inflation-24.html

HL/ HaitiLibre

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