Haiti – FLASH: Inflation explodes in one month
06/05/2024 09:14:01
The Haitian Institute of Statistics and Informatics (IHSI) informs, in its latest bulletin, that the General Consumer Price Index (CPI, 100 in 2017-2018) which stood at 373.6 in February 2024 is rose to 391.3 in March, a very strong monthly increase of +4.7% in March against +3.1% the previous month (+7.8% in 2 months). Year-on-year, inflation now stands at 26.7% in March 2024 compared to 23.0% the previous month.
The increase in observed monthly CPI inflation of +4.7% is the result of all consumption functions, the most important of which are:
“Food products and non-alcoholic beverages”: +6.4% over one month and 37.5% over one year;
“Clothing and footwear”: +4.0% over one month and 20.7% over one year;
“Housing, water, gas, electricity and other fuels”: +2.48% over one month and 26.9% over one year;
“Furniture, household items and routine household maintenance”: +3.1% over one month and 19.5% over one year;
“Restaurant” +5.1% over one month and 22.5% over one year.
Products with the highest annual inflation:
Food :
Rice (on average 41%), Corn (on average 49.5%), Corn (on average 38.3%), millet (37.0%), meat (38.5%), fresh fish (59.7 %), herring (on average 51.8%), edible oil (50.5%) and lemon (77.3%).
Article of clothing and shoes:
Clothing manufacturing (27.4%), Dress (28.0%), Shirt (24.9%) and Socks (26.2%).
Housing, water, gas, electricity and other fuels:
Housing lyer (36.3%), water (20.8%) and charcoal (25.5%).
Furniture, household items and routine household maintenance:
Living room furniture (30.2%), Curtains (21.2%) and Fan (31%).
Restaurants :
Meal prices outside (22.5%).
The prices of local products, for the 3rd consecutive time, increased by 26.8% and those of imported products and by +26.5% for imported products (year-on-year.)
Consumer Price Index for the whole country by consumption function:
General index: 4.7% in March 2024 and 26.7% over one year
Food and non-alcoholic beverage products: +6.4% over one month and +37.5% over one year;
Alcoholic beverages and tobacco: +4.4% over one month and +13.1% over one year;
Clothing and footwear: +4.0% over one month and +20.7% over one year;
Housing, water, gas, electricity and other fuels: +2.8% over one month and +26.9% over one year;
Furniture, household items and routine household maintenance: +3.1% over one month and +19.5% over one year;
Health: annual basis: +2.0% over one month and +6.1% over one year;
Transport: +0.6% over one month and +0.3% over one year;
Communication: +1.2% over one month and +3.1% over one year;
Leisure: +3.3% over one month and +11.8% over one year;
Education: +1.1% over one month and +5.3% over one year;
Restaurants: +5.1% over one month and +22.5% over one year;
Miscellaneous goods and services: +3.7% over one month and +10.0% over one year;
Annual change in CPI (inflation):
IPC Global : 2023 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%; March 26.7%
Local Products IPC: 2023 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%; March 26.8%
CPI of Imported Products: 2023 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%; March 26.5%
CPI by geographic region:
It is especially in the South regions (Sud, Grande Anse and Nippes) and Reste Ouest (South-East and West Departments excluding the metropolitan area) which recorded the highest price increases:
Metropolitan Area: +25.9% over one year
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);
Rest West: +28.1% over one year
(South-East and West Departments without the metropolitan area);
Nord : +26.0% over one year
(North, North East and North West Departments);
Sud : +28.3% over one year
(Department of South, Grande-Anse and Nippes);
Transversal: +25.8% over one year
(Department of Center and Artibonite).
Previous bulletin:
https://www.haitilibre.com/article-42095-haiti-economie-l-inflation-a-23-en-forte-hausse.html
HL/ HaitiFree
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