Haiti – Economy: Inflation at 23% up sharply
11/04/2024 10:27:52
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):
IPC Global : 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 IPC: 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);
Nord : +22.87% over one year
(North, North East and North West Departments);
Sud : +24.8% over one year
(Department of South, Grande-Anse and Nippes);
Transversal: +22.3% over one year
(Department of Center and Artibonite).
Previous bulletin:
https://www.haitilibre.com/article-41763-haiti-economie-l-inflation-en-baisse-reste-elevee-a-20-9-janvier-2024.html
HL/ HaïtiLibr
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