Haiti – Economy : Falling inflation remains high at 20.9% (January 2024)
27/02/2024 10:38:02

Haiti - Economy : Falling inflation remains high at 20.9% (January 2024)

The Haitian Institute of Statistics and Informatics (IHSI) informs that inflation recorded a monthly increase of +1.1% in January 2024 compared to +2.1% the previous month. Year-on-year, the deceleration continues and annualized inflation stands at 20.9% in January 2024 compared to 21.2% the previous month.

The observed increase in monthly inflation of 1.1% is the result in particular of consumption functions, the most important of which are:

“Food products and non-alcoholic drinks”: +3.0% over one month and 28.1% over one year;

“Clothing and footwear”: +1.8% over one month and 17.6% over one year;

“Housing, water, gas, electricity and other fuels”: +0.8% over one month and 26.1% over one year;

“Furniture, household items and routine household maintenance”: +1.7% over one month and 17.82% over one year;

“Miscellaneous goods and services” +1.5% over one month and 10.1% over one year.

Products with the highest annual inflation:

Food:

Rice (on average 29.4%), millet (31.5%), meat (on average 30.7%), fresh fish (49.5%), herring (on average 42.8%), edible oil ( 44.6%) and Lemon (73.1%).

Article of clothing and shoes:

Clothing manufacturing (21.0%), Dress (23.8%), Shirt (21.7%) and Socks (21.6%).

Housing, water, gas, electricity and other fuels:

Housing (39.9%), water (32.5%) and charcoal (18%).

Furniture, household items and routine household maintenance:

Living room furniture (28.2%), Curtains (18.7%) and Fan (32.7%).

Restaurants:

Meal prices outside (21.7%).

The prices of local products and those of imported products increased by +22.6% and +21.4% respectively, year-on-year.

Consumer Price Index for the whole country by consumption function:

General index: 1.1% in January 2024 and 20.9% over one year

Food and non-alcoholic beverage products: +1.5% over one month and +28.3% over one year;

Alcoholic beverages and tobacco: +0.3% over one month and +9.1% over one year;

Clothing and footwear: +0.7% over one month and +16.5% over one year;

Housing, water, gas, electricity and other fuels: +0.9% over one month and +25.2% over one year;

Furniture, household items and routine household maintenance: +0.6% over one month and +17.5% over one year;

Health: annual basis: +0.4% over one month and +6.2% over one year;

Transport: +0.1% over one month and +0.2% over one year;

Communication: +0.1% over one month and +2.7% over one year;

Leisure: +0.4% over one month and +8.2% over one year;

Education: +0% over one month and +3.5% over one year;

Restaurants: +1.3% over one month and +17.4% over one year;

Miscellaneous goods and services: +0.5% over one month and +7.9% over one year;

Annual change in CPI (inflation):

Overall CPI: 2023January 49.3%; 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%

Local Products CPI: 2023January 41.8%; 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%

CPI of Imported Products: 2023 January 61.5%; 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%

CPI by geographic region:

It is especially the North, the South and the transverse region which recorded the highest price increases:

Metropolitan Area: +19.1% over one year

(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);

Rest West: +22.0% over one year

(South-East and West Departments without the metropolitan area);

North: +19.1% over one year

(North, North East and North West Departments);

South: +23.0% over one year

(Department of South, Grande-Anse and Nippes);

Transversal: +20.08% over one year

(Department of Center and Artibonite).

HL/ HaitiLibre



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