Haiti - Economy : Inflation in stront increase 26.7%, highest for 19 years - HaitiLibre.com : Haiti news 7/7





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Haiti - Economy : Inflation in stront increase 26.7%, highest for 19 years
06/06/2022 08:05:40

Haiti - Economy : Inflation in stront increase 26.7%, highest for 19 years
The General Consumer Price Index (CPI base 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 211.6 in April 2022 from 208.3 the previous month.

This results in a variation over one month of +1.6% or +26.7% year-on-year (the highest for 19 years) against respectively +1.6% and +25.9% 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 1st.

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

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

"Food products and non-alcoholic beverages": +1.8% over one month or 27.7% over one year;
"Clothing and footwear": +2.4% over one month or 29.5% over one year;
"Furniture, household items and routine household maintenance" +2.2% over one month and 25.7% over one year)
"Health": +2.2% over one month, i.e. 25.2% over one year;

Products with more pronounced annual inflation:

Food :
Rice (on average 42.3%), pearl millet (26.3%), bread (28.3%), meat (16.2%), fish (46.3%), herd (41.7%), powdered milk (40.7%), edible oil ( 75.2%), dry pea (22.5%) and yam (19.1%).

Clothing and footwear:
Dress (30.3%), shirt (32.9%), and pants for men (29.0%).

"Furniture, household items and routine household maintenance":
Dining room (45%) and bed (41.8%).

Health:
Medicines (on average 28.2%) and glasses with corrective lenses (27.8%).

A higher price increase was observed for imported products, i.e. 38.0% year-on-year (+2.7 in April) against 20.5% for local products (+1.0% in April).

Consumer Price Index for the whole country by consumption function:

General index: +26.7% over one year and +1.6% for the month of April 2022

Food and non-alcoholic beverages: month +1.9%, year +27.7%
Alcoholic beverages and tobacco: month (+1.2%) , year (+14.5)%
Clothing and footwear: month +2.3%, year +29.5%
Housing, water, gas, electricity and other fuels: month +0.8%, year +29.2%
Furniture, household items and routine household maintenance: month +2.1%, year +25.7%
Health: month +2.2%, year +25.2%
Transport: month +0.6%, year +30.9%
Communication: month +0.9%, year +6.2%
Leisure: month +1.2%, year +14.5%
Education: month (), year +7.9%
Restaurants: month +1.2%, year +34.2%
Miscellaneous goods and services: month +1.8%, year 26.1%

Annual change in the CPI (inflation):

Global CPI: 2021 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%; April 26.7%

CPI for Local Products: 2021 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%; April 20.5%

CPI of Imported Products: 2021 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%; April 38.0%

See also :
https://www.haitilibre.com/en/news-36701-haiti-economy-inflation-at-the-26-threshold-up.html

HL/ HaitiLibre

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