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Haiti - Economy : Inflation at 46.4% remains high despite a slight drop (May 2023) 28/07/2023 10:32:44
For the month of May 2023, (latest data available) inflation still remains high despite a monthly decline of -1.5% and a year-on-year decline of 46.4%, compared to -0, respectively, 3% and 47.9% for the month of April 2023 The year-on-year increase observed in May 2023 is the result of in particular consumption functions, the most important of which are: "Food products and non-alcoholic beverages": +0.7% over one month and 45.8% over one year; "Clothing and footwear": +1.2% over one month and 40.0% over one year; "Housing, water, gas, electricity and other fuels": +3.0% over one month and 41.1% over one year "Furniture, household items and routine household maintenance": +0.9% over one month and 40.8% over one year Products with higher annual inflation: Power: Rice (on average 57.0%), meat (on average 68.4%), milk (on average 50.1%), edible oil (67.2%) and sugar (on average 58.6%) . Clothing and footwear: Dress (48.2.0%), shirt (49.1%), men's pants (40.4%), shoes, sneakers (44.4%) and sandals (47.5%) Furniture, household items and routine household maintenance: Living room furniture (56.9%), dining room (59.1%), generator (74.1%) and laundry soap (52.8%). Housing, water, gas, electricity and other fuels: Housing rent (39.2%), charcoal (37.5%), propane gas (57.1%) and kerosene (91.8%) Furniture, household items and routine household maintenance: Living room furniture (50.7%), dining room (49.1%), generator (61.4%) and laundry soap (46.2%) As was the case for several months, a higher price increase was observed for imported products, ie 54.3% year-on-year against 41.9% for local products. Consumer Price Index for the whole country by consumption function: General index: 47.9% over one year in April and 46.4% over one year in May 2023 Food and non-alcoholic beverages: yearly basis, April: 47.9%; May 46.4% Alcoholic beverages and tobacco: annual basis, April: 27.3%; May 25.5% Clothing and footwear: annual basis, April: 42.0%; May 40.1% Housing, water, gas, electricity and other fuels: annual basis, April: 38.4%; May 41.1% Furniture, household items and routine household maintenance: annual basis, April: 43.0%; May 40.8% Health: annual basis: April: 43.0%; May 39.0% Transportation: April: 106.8%; May 105.0% Communication: April: 25.7%; May 24.0% Leisure: April: 28.7%; May 27.0% Education: April: 11.2%; May 11.0% Restaurants: April: 44.8%; May 42.0% Miscellaneous goods and services: April: 40.9%; May 38.0% Annual change in the CPI (inflation): Headline CPI: 2022 May 27.8%; June 29.0%; July 30.5%; August 32.0%; September 38.7%; October 47.2%; November 45.5%; December 48.3% 2023 January 49.3%; February 48.2%; March 48.3%; April 47.9%; May 46.4% CPI for Local Products: 2022 May 21.0%; June 21.8%; July 23.2%; August 24.6%; September 30.9% October 39.0%; November 37.4%; December 40.9% 2023 January 41.8%; February 41.3%; March 42.3%; April 42.6%; May 41.9% CPI of Imported Products: 2022 May: 40.0%; June 41.7%; July 43.2%; August 44.8%; September 52%; October 61.0%; November 59.1; December 60.2 2023 January 61.5%; February 59.4%; March 57.8%; March 56.1%; April 56.1%; May 53.4% CPI by geographic region: All geographic regions contributed to the increase in inflation in March 2023. However, the variation in the South (47.3%) and Rest West (47.2%) are the most significant. Metropolitan area: annual basis, April 47.3%; May 45.6% (Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet); Rest West: annual basis, April 48.5%; May 47.3% (South-East and West Departments without the metropolitan area); North: annual basis, April 47.9%; May 46.4% (North, North East and North West Department); South: annual basis, April 48.6%; May 47.2% (Department of the South, Grande-Anse and Nippes); Transversal: annual basis, April 47.7%; May 46.4% (Department of Center and Artibonite). Also read: https://www.haitilibre.com/en/news-39712-haiti-economy-inflation-continues-to-increase-+17-in-march-2023.html HL/ HaitiLibre
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