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Haiti - Inflation : 28.3%, 4th consecutive month of increase
03/07/2024 09:55:44

Haiti - Inflation : 28.3%, 4th consecutive month of increase
The Haitian Institute of Statistics and Informatics (IHSI), in its latest bulletin of May 2024, informs that the General Consumer Price Index (CPI, 100 in 2017-2018) which stood at 398.2 in April rose to 404.9 in May, thus recording monthly increases of 1.8% and annual increases of 28.3% against, respectively, 1.8% and 27.3% the previous month.

The increase in observed monthly CPI inflation is the result of almost all consumption functions, the most important of which are:

"Food products and non-alcoholic beverages" : +2.2% over one month and 40.5% over one year;
"Clothing and footwear" : +1.1% over one month and 21.7% over one year;
"Housing, water, gas, electricity and other fuels" : +1.2% over one month and 22.8% over one year;
"Restaurant" +1.9% over one month and 27.0% over one year.

Products with the highest annual inflation:
Food:
Rice (on average 50.4%), Corn (on average 42,6%), Meats (on average 39.4%), Fresh fish (59.1%), Herring (on average 54.5%), Edible oil (49.6%), Lemon (81.1%) and Banana (41.16%).

Article of clothing and shoes :
Clothing manufacturing (29.9%), Dress (28.2%), Shirt (26.2%) and Socks (26.4%).

Housing, water, gas, electricity and other fuels :
Housing rent (26.2%), Charcoal (29.6%) and Propane gas (21.2%)

Furniture, household items and routine household maintenance :
Living room furniture (29.9%), Regular tablecloths (21.1%) and Fan (31.8%).

Restaurant :
Meals taken outside (27.0%)

The prices of local products, for the 4th consecutive time, increased by 28.9% and those of imported products and by +27.3% for imported products (year-on-year.)

Consumer Price Index for the whole country by consumption function :
General index: 1.7% in May 2024 and 28.3% over one year

Food and non-alcoholic beverage products: +2.2% over one month and +40.5% over one year;
Alcoholic beverages and tobacco: +1.2% over one month and +15.4% over one year;
Clothing and footwear: +1.1% over one month and +21.7% over one year;
Housing, water, gas, electricity and other fuels: +1.2% over one month and +22.8% over one year;
Furniture, household items and routine household maintenance: +1.0% over one month and +19.8% over one year;
Health: +0.9% over one month and +7.4% over one year;
Transport: +0.3% over one month and +0.6% over one year;
Communication: +1.1% over one month and +5.1% over one year;
Leisure: +1.0% over one month and +12.9% over one year;
Education: +0.1% over one month and +5.7% over one year;
Restaurants: +1.9% over one month and +27.0% over one year;
Miscellaneous goods and services: +1.2% over one month and +12.2% over one year;

Annual change in CPI (inflation) :

Overall CPI : 2023 May 46.4%; June 43.9%; July 39.8%; August 37.3%; September 31.8%; October 22.8% 2024 January 20.9%; February 23%; March 26.7%; April 27.3%; May 28.3%

Local Products CPI : 2023 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%; March 26.8%; April 27.6%; May 28.9%

CPI of Imported Products : 2023 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%; March 26.5%; April 26.7%; May 27.3%

CPI by geographic region :
At the regional level, the most significant price increases, year-on-year, are mainly observed in the Reste Ouest (29.8%), South (29.3%) and Metropolitan Area (28.3%) regions.

Metropolitan Area : +28.30% over one year
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest Wes t: +29.6% over one year
(South-East and West Departments without the metropolitan area);

North : +26.9% over one year
(North, North East and North West Departments);

South : +29.3% over one year
(Department of South, Grande-Anse and Nippes);

Transversal : +27.1% over one year
(Department of Center and Artibonite).

Previous report :
https://www.haitilibre.com/en/news-42470-haiti-economy-inflation-continues-to-rise-+5-in-2-months.html

HL/ HaitiLibre

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