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Haiti - Economy : Sharp acceleration in inflation + 3.4% in 1 month
29/11/2023 10:13:17

Haiti - Economy : Sharp acceleration in inflation + 3.4% in 1 month
The Haitian Institute of Statistics and Informatics (IHSI) informs that inflation recorded a sharp acceleration in monthly rate + 3.4% in the month of October 2023 against + 2.3% the previous month. On the other hand, year-on-year, the deceleration is accentuated and annualized inflation stands at 22.8% compared to 31.8% the previous month.

The observed increase in monthly inflation of 3.4% is the result in particular of consumption functions, the most important of which are :

"Food products and non-alcoholic beverages": +4.8% over one month and 20.6% over one year;
"Clothing and footwear": +2.5% over one month and 29.8% over one year;
"Housing, water, gas, electricity and other fuels": +1.8% over one month and 39.1% over one year
"Furniture, household items and routine household maintenance": +2.3% over one month and 16.2% over one year

Products having recorded more pronounced annual inflation:

Food:
Rice (on average 20.2%), Meats (on average 25.6%), Fresh fish (38.0%), Herring (on average 34.6%), Edible oil (33.6%), Lemon ( 58.4%), Banana (20.5%) and Sugar (on average 20.8%).

Article of clothing and shoes:
Clothing manufacturing (17.6%), Dress (21.8%), Shirt (19.0%) and Socks (19.4%).

Housing, water, gas, electricity and other fuels:
Housing (41.3%), Charcoal (10.8%) and Propane gas (8.3%).

Furniture, household items and routine household maintenance:
Living room furniture (27.5%), Stove (17.6%) and Fan (29.0%).

Restaurants:
Meal prices outside (19.5%).

The prices of local products and those of imported products increased by +22.7% and +23.1%, respectively, year-on-year.

Consumer Price Index for the whole country by consumption function:
General index: 3.4% as of October 2023 and 22.8% over one year

Food and non-alcoholic beverage products: +4.8% over one month and +20.6% over one year;
Alcoholic beverages and tobacco: +2.2% over one month and +5.8% over one year;
Clothing and footwear: +2.5% over one month and +15.2% over one year;
Housing, water, gas, electricity and other fuels: +2.5% over one month and +29.8% over one year;
Furniture, household items and routine household maintenance: +2.3% over one month and +16.2% over one year;
Health: annual basis: +1.1% over one month and +9.5% over one year;
Transport: +0.3% over one month and +77.0% over one year;
Communication: +0.5% over one month and +77.0% over one year;
Leisure: +1.1% over one month and +7.5% over one year;
Education: +1.0% over one month and +5.6% over one year;
Restaurants: +3.5% over one month and +19.5% over one year;

Miscellaneous goods and services: +1.8% over one month and +8.9% over one year;

Annual change in CPI (inflation):

Overall CPI: 2022 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%; June 43.9%; July 39.8%; August 37.3%; September 31.8%; October 22.8%

Local Products CPI: 2022 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%; June 41.1%; July 38.6%; August 36.6%; September 31.3%; October 22.7%

CPI of Imported Products: 2022 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%; June 48.2%; July 41.5%; August 38.2%; September 32.6%; October 23.1

CPI by geographic region:
It is especially the North, the South and the transverse region which recorded the highest price increases with 24.3%, 24.2% and 24.1% respectively.

Metropolitan Area: +3.6% in October +20.5% year-on-year
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: +3.2% in October +23.6% year-on-year
(South-East and West Departments without the metropolitan area);

North: +3.3% in October +24.3% year-on-year
(North, North East and North West Departments);

South: +3.5% in October +24.2% year-on-year
(Department of South, Grande-Anse and Nippes);

Transversal: +3.3% in October +24.1% over one year
(Department of Center and Artibonite).

See also :
https://www.haitilibre.com/en/news-40874-haiti-economy-inflation-slows-on-an-annual-basis-august-september.html

HL/ HaitiLibre

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