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Haiti - Economy : Inflation at the 26% threshold (up)
19/05/2022 10:17:38

Haiti - Economy : Inflation at the 26% threshold (up)
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 rose to 208.3 in March 2022 from 204.9 the previous month.

This results in a variation over one month of +1.6% or +25.9% year-on-year against respectively +2.6% and +25.2% the previous month...

Let's recall that in its framework letter for the amending budget for the second half of the 2021-2022 fiscal year, the Government based its forecasts on an inflation rate of 27.3% year-on-year by October 1. .

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

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

"Food products and non-alcoholic beverages": +1.9% over one month or 26.6% over one year;
"Clothing and footwear": +2.3% over one month or 28.1% over one year;
"Housing, water, gas, electricity and other fuels": +0.8% over one month or 28.5% over one year;
"Health": +2.2% over one month or 26.1% over one year;
"Transport": +-.6% over one month or 30.5% over one year.

Products with more pronounced annual inflation:

Power:
Rice (on average 39.6%), bread (29.2%), meat (22.7%), milk (28.9%), edible oil (67.5%), lemon (15.8%) and sugar (30.3%).

Clothing and footwear:
Shirt (29.8%), pants for men (27.1%), shoes, sneakers (36.7%) and sandals (30.0%).

“Housing, water, gas, electricity and other fuels”:
Housing rent (average 19.4%), water (42.0%), charcoal (34.8%), propane gas (66.4%), kerosene (118.8%)

Health:
Medicines (on average 30.1%) and glasses with corrective lenses (22.3%).

Transportation:
Private vehicle maintenance (37.6%) and petrol and diesel (66.6%).

A higher price increase was observed for imported products, i.e. 36.2% year-on-year against 20.2% for local products.

Consumer Price Index for the whole country by consumption function:

General index: +25.9% over one year and +1.6% over the month of March 2022

Food and non-alcoholic beverages: month +1.9%, year +26.6%
Alcoholic beverages and tobacco: month (+1.2%) , year (+13.2)%
Clothing and footwear: month +2.3%, year +28.1%
Housing, water, gas, electricity and other fuels: month +0.8%, year +28.5%
Furniture, household items and routine household maintenance: month +2.1%, year +24.4%
Health: month +2.2%, year +26.1%
Transport: month +0.6%, year +30.5%
Communication: month +0.9%, year +5.5%
Leisure: month +1.2%, year +14.9%
Education: month (), year +9.0%
Restaurants: month +1.2%, year +32.6%
Miscellaneous goods and services: month +1.8%, year 25.7%

Annual change in the CPI (inflation):

Global CPI: March 2021 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%; March 25.9%

CPI for Local Products: March 2021 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%; March 20.2%

CPI of Imported Products: March 2021 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%; March 36.2%

CPI by geographic region (February 2022):

The most significant variations in March 2021 mainly concern the Rest of the West +1.7% over one month and +27.4% over one year and the South which posted +1.7% over one month and 27.7% over one year.

Metropolitan area: year +24.6% (+1.6% over 1 month)
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: year +27.4% (+1.7% over 1 month)
(South-East and West Departments without the metropolitan area);

North: year +24.6% (+1.6% over 1 month)
(North, North East and North West Department);

South: year +27.7% (+1.7% over 1 month)
(Department of the South, Grande-Anse and Nippes);

Transversal: year +25.0% (+1.6% over 1 month)
(Department of Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-36451-haiti-economy-inflation-accelerates-and-reaches-252.html

HL/ HaitiLibre

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