Haiti - Economy : Inflation above 17%

Haiti – Economy : Inflation above 17%
17/05/2021 10:00:28

The General Consumer Price Index (CPI base 100, 2017-2018 https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html which stood at 163.7 in February 2021 https://www.haitilibre.com/article-33515-haiti-economie-legere-baisse-de-l-inflation-en-fevrier.html is rose to 165.1 in March 2021 maintaining a monthly growth rate of 1.1% and inflation on an annual basis of 17.2% in March against 17.9% in February, i.e. a slight deceleration of 0.7%.

The monthly increase observed in March is mainly the result of the behavior of the following consumption indices:

“Food products and non-alcoholic drinks”: (+ 1.3% over one month and 20.7% over one year);

“Articles of clothing and footwear” (1.1% over one month and 19.3% over one year);

“Furniture, household items and routine household maintenance” (1.1% over one month and 15.2% over one year);

“Health” (1.4% over one month and 26.1% over one year).

The products which recorded a more pronounced annual inflation are :

Food :

Local rice (17.1%), imported rice (15.6%), bread (18.0%), pasta (20.2%), goat meat (27.2%), chicken (21.5%), banana (30.7%) and dry peas ( 28.8%).

Articles of clothing and footwear :

Fabric (23.8%), dress (19.7%) and shirt (19.1%).

Furniture, household items and routine household maintenance :

Living room (21.8%) and dining room (23.6%) furniture.

Health :

Medicines (28.6%)

It should be noted that the Consumer Price Index for local products has varied by 16.9% year on year, against 17.5% for imported products.

Consumer Price Index for the whole country by consumption function :

General index: 17.2% over one year and + 1.1% over the month of March 2021

Food and non-alcoholic drinks: month + 1.13%, year + 20.7%

Alcoholic beverages and tobacco: month 0.1%, year + 8.6%

Clothing and footwear: month + 1.1%, year + 19.3%

Housing, water, gas, electricity and other fuels: month + 0.9%, year + 13.9%

Furniture, household items and routine household maintenance: month + 1.1%, year + 15.2%

Health: month + 1.4%, year + 26.1%

Transport: month + 0.3%, year + 5.9%

Communications: month + 0.2%, year + 2.9%

Leisure: month + 0.2%, year + 10.0%

Education: month () year + 9.8%

Restaurants: month (), year + 18.4%

Miscellaneous goods and services: month + 0.7%, year + 15.7%

Annual change in the CPI (inflation) :

IPC Global : 2020 March 22.0%; April 22.4%; May 23.3%; June 24.7%; July 25.7%; August 27.8%; September 25.1%; October 21.6%; November 20.1%; December 19.2%; 2021 January 18.7%; February 17.9%; March 17.2%.

Local Products CPI : 2020 March 21.5%; April 21.5%; May 22.5%; June 23.9%; July 24.9%; August 26.5%; September 24.3%; October 21.7%; November 20.1%; December 19.1%; 2021 January 18.5%; February 17.3%; March 16.9%.

CPI of Imported Products : 2020 March 23.0%; April 24.0%; May 24.8%; June 26.2%; July 27.1%; August 30.1%; September 26.6%; October 21.4%; November 20.0%; December 19.3%; 2021 January 19.0%; February 18.3%; March 17.5%.

CPI by geographic region (January 2021) :

In the region, the positive variations between 1.0% and 1.1% are observed in all geographic regions of the country. However, the most significant variations are recorded in the regions: Metropolitan Area (17.8%), Reste-Ouest and the transverse region (17.3% each).

Metropolitan area: month + 1.0%, year + 17.8%

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

Rest West: month + 1.1%, year + 17.3%

(Departments of the Southeast and the West without the metropolitan area);

North: month + 1.0%, year + 16.2%

(Department of North, North East and North West);

South: month + 1.0%, year + 16.4%

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

Cross-sectional: month + 1.1%, year + 17.3%

(Department of Center and Artibonite).

HL / HaitiLibre

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