Haiti – Inflation: 28.3%, 4th consecutive month of increase
03/07/2024 09:52:18
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 (average 50.4%), Corn (average 42.6%), Meat (average 39.4%), Fresh fish (59.1%), Herring (average 54.5%), Edible oil (49.6%), Lemon (81.1%) and Banana (41.16%).
Clothing and footwear items:
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 home maintenance:
Living room furniture (29.9%), ordinary tablecloths (21.1%) and fan (31.8%).
Restaurant :
Meals eaten outside (27.0%)
The prices of local products, for the 4th consecutive time, increased by 28.9% and those of imported products 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 products and non-alcoholic beverages: +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 home 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 evolution of the CPI (inflation):
IPC Global : 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%
CPI of local products: 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%), Sud (29.3%) and Area Métropolitaine (28.3%) regions.
Metropolitan Area: +28.30% over one year
(Port-au-Prince, Delmas, Petion-ville, Carrefour and Croix des Bouquet);
Rest West: +29.6% over one year
(South-East and West departments without the metropolitan area);
Nord : +26.9% over one year
(North, North East and North West Department);
Sud : +92.3% over one year
(Department of the South, Grande-Anse and Nippes);
Transversal: +27.1% over one year
(Department of Centre and Artibonite).
Previous bulletin:
https://www.haitilibre.com/article-42470-haiti-economie-l-inflation-poursuit-sa-hausse-+5-en-2-mois.html
HL/ HaitiLibre
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