Haiti - Economy : Inflation 23% sharply rising - HaitiLibre.com : Haiti news 7/7





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Haiti - Economy : Inflation 23% sharply rising
11/04/2024 10:32:20

Haiti - Economy : Inflation 23% sharply rising
The Haitian Institute of Statistics and Informatics (IHSI) informs that the General Consumer Price Index (CPI, 100 in 2017-2018) which stood at 362.5 in January rose to 373.6 in February 2024, recorded a strong monthly increase of +3.1% in February compared to 1.1% the previous month. Year-on-year, inflation now stands at 23.0% in February 2024 compared to 20.9% the previous month.

The increase in observed monthly CPI inflation of 3.1% is the result in particular of consumption functions, the most important of which are:

"Food products and non-alcoholic beverages" : +4.0% over one month and 31.9% over one year;
"Clothing and footwear" : +2.7% over one month and 17.6% over one year;
"Housing, water, gas, electricity and other fuels" : +2.4% over one month and 25.8% over one year;
"Furniture, household items and routine household maintenance" : +2.3% over one month and 18.2% over one year;
"Miscellaneous goods and services" +3% over one month and 17.6% over one year.

Products with the highest annual inflation :
Food :
Rice (on average 41%), Corn (on average 25.7%), meat (on average 32.7%), fresh fish (53.3%), herring (on average 46.8%), edible oil ( 45.9%) and Lemon (69.4%).

Article of clothing and shoes :
Clothing manufacturing (23.5%), Dress (24.4%), Shirt (22.0%) and Socks (22.8%).

Housing, water, gas, electricity and other fuels :
Housing (36.3%), water (25.9%) and charcoal (22.4%).

Furniture, household items and routine household maintenance:
Living room furniture (27.9%), Curtains (20.3%) and Fan (30.2%).

Restaurants :
Meal prices outside (17.6%).

The prices of local products and those of imported products increased by +23.2% and +22.9% respectively, year-on-year.

Consumer Price Index for the whole country by consumption function:
General index: 3.1% in February 2024 and 23.0% over one year

Food and non-alcoholic beverage products : +4.0% over one month and +31.9% over one year;
Alcoholic beverages and tobacco : +2.2% over one month and +9.5% over one year;
Clothing and footwear: +2.7% over one month and +17.6% over one year;
Housing, water, gas, electricity and other fuels : +2.4% over one month and +25.8% over one year;
Furniture, household items and routine household maintenance : +2.3% over one month and +18.2% over one year;
Health: annual basis : +1.5% over one month and +6.1% over one year;
Transport : +0.3% over one month and +0.1% over one year;
Communication : +0.6% over one month and +3.1% over one year;
Leisure : +1.4% over one month and +9.1% over one year;
Education : +0.6% over one month and +4.1% over one year;
Restaurants : +3.0% over one month and +17.6% over one year;
Miscellaneous goods and services : +2.1% over one month and +7.5% over one year;

Annual change in CPI (inflation) :

Overall CPI : 2023 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% 2024 January 20.9%; February 23%

Local Products CPI : 2023 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% 2024 January 22.6%; February 23.2%

CPI of Imported Products : 2023 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 2024 January. 21.4%; February 22.9%

CPI by geographic region :
It is especially in the southern regions (Sud, Grande Anse and Nippes) that recorded the highest price increases:

Metropolitan Area : +22.0% over one year
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West : +24.4% over one year
(South-East and West Departments without the metropolitan area);

North : +22.87% over one year
(North, North East and North West Departments);

South : +24.8% over one year
(Department of South, Grande-Anse and Nippes);

Transversal : +22.3% over one year
(Department of Center and Artibonite).

Previous report :
https://www.haitilibre.com/en/news-41763-haiti-economy-falling-inflation-remains-high-at-209-january-2024.html

HL/ HaitiLibre

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