Haiti - FLASH : Inflation close to 50% (December 2022) - HaitiLibre.com : Haiti news 7/7
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Haiti - FLASH : Inflation close to 50% (December 2022)
02/02/2023 08:11:31

Haiti - FLASH : Inflation close to 50% (December 2022)
Since the peak recorded during the month of October 2022 (11.0% monthly and 47.2% annual) https://www.haitilibre.com/en/news-38415-haiti-flash-inflation-out-of-control-reached-472-over-one-year.html 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 ) recorded successive monthly increases of 3.5% in November 2022 and 2.9% in December. On the other hand, on a year-on-year basis, inflation decelerated slightly in November to 45.5% and rose again in December 2022 to 48.3%.

The year-on-year increase observed in December 2022 is the result of almost all consumption functions, the most important of which are:

"Food products and non-alcoholic beverages" : 3.7% over one month and 47.7% over one year;
"Clothing and footwear" : +2.4% over one month and 45.4% over one year;
"Housing, water, gas, electricity and other fuels" : 2.4% over one month and 34.6% over one year;
"Health" : +3.5% over one month and 43.4% over one year);
"Transport" : 0.7% over one month and 120.6% over one year.

Products with higher annual inflation :
Power :
Rice (68.3% on average), meat (57.5% on average), powdered milk (9.1% on average), peas (35% on average%) and sugar (70% on average);

Clothing and footwear :
Dress (57.6%), shirt (60.4%), men's pants (45.9%), shoes, sneakers (54.3%) and sandals (58.7%);

Housing, water, gas, electricity and other fuels :
Housing rent (21.9%), water (19.0%), charcoal (45.5%), propane gas (87.5%) and kerosene (92.0%).

Health :
Medicines (44%) and glasses with corrective lenses (57.6%).

Transportation :
Private vehicle maintenance (49.6%) and petrol and diesel (129.4%).

As was the case in November, a greater rise in prices was observed at the level of imported products, ie 60.2% year-on-year compared to 40.9% for local products.

Consumer Price Index for the whole country by consumption function :
General index: 48.3% over one year and +2.9% for the month of December 2022

Food and non-alcoholic beverages: month +3.7%, year 47.7%
Alcoholic beverages and tobacco: month 3.7%, year 37.7%
Clothing and footwear: month +2.4%, year 45.4%
Housing, water, gas, electricity and other fuels: month +2.4%, year 34.6%
Furniture, household items and routine household maintenance: month +2.4%, year 43.8%
Health: month +3.5%, year 43.4%
Transport: month +0.7%, year 120.6%
Communication: month +1.9%, year 26.1%
Leisure: month +2.7%, year 31.4%
Teaching: month +2.0, year 10.7%
Restaurants: month +1.8%, year 38%
Miscellaneous goods and services: month +2.4%, year 39.5%

Annual change in the CPI (inflation) :

Global CPI : 2021 December 24.7% 2022 January 24.0%; February 25.2%; March 25.9%; April 26.7%; May 27.7%; June 29.0%; July 30.5%; August 32.0%; September 38.7%; October 47.2%; November 45.5%; December 48.3%

CPI for Local Products : 2021 December 19.7% 2022 January 19.1%; February 20.2%; March 20.2%; April 20.5%; May 21.0%; June 21.8%; July 23.2%; August 24.6%; September 30.9% October 39.0%; November 37.4; December 40.9%

CPI of Imported Products : 2021 December 33.7% 2022 January 33.0%; February 34.2%; March 36.2%; April 38.0%; May: 40.0%; Jun 41.7; July 43.2%; August 44.8%; September 52%; October 61.0%; November 59.1; December 60.2

CPI by geographic region :
All regions contributed to the increase in inflation in December 2022. The most significant variation in December 2022 year-on-year concerns the Metropolitan Area (48.8%)

Metropolitan area : year +48.8% (+2.1% over one month)
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West : year +48.5% (+3.0% over one month)
(South-East and West Departments without the metropolitan area);

North : year +47.7% (+3.7% over one month)
(North, North East and North West Department);

South : year +48.5% (+2.1% over one month)
(Department of the South, Grande-Anse and Nippes);

Transversal : year +47.3% (+4.2% over one month)
(Department of Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-38415-haiti-flash-inflation-out-of-control-reached-472-over-one-year.html

HL/ HaitiLibre

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