Haiti – Economy : The country crushed by annual inflation close to 26%
Two months ago, the Haitian Institute of Statistics and Informatics (IHSI) resumed the publication of its indices after a 9-month interruption and published with 2 months late the Consumer Price Index of the month from July 2020.
Prices continued to increase during the month of July 2020, showing a year-on-year increase of 25.7% over 12 months, compared to 24.7% in June and 23.4% in May respectively https://www.haitilibre.com/en/news-28646-haiti-flash-inflation-explodes-and-approaches-20.html
This upward variation comes from almost all consumption indices, the most important of which are :
“Food products and non-alcoholic drinks” (2.9% over one month and 31.1% over one year);
“Articles of clothing and footwear” (2.9% over one month and 29.8% over one year);
“Health” (2.3% over one month 44.4% over one year);
“Restaurants” (3.5% over one month and 27.5% over one year).
“Miscellaneous goods and services” (2.2% over one month and 19.9% over one year).
Products that experienced the strongest increases in July over 12 months :
Rice on average (+ 33.6%), meat on average (+ 28.3%), cod (+ 39.2%), lemon (+ 29.3%), banana (+ 48.3%), yam (+29, 5%) and real tree (+ 25.9%).
Articles of clothing and footwear :
Dress (+ 29.5%), panties (+ 24.6%), shirt (+ 29.9%) and pants for men (+ 28.5%).
Medicines (+ 48.5%), glasses with corrective lenses (+ 44.8%) and hospital costs (+ 48.3%).
Meals eaten outside (+ 27.5%).
Miscellaneous goods and services :
Shampoo (+ 20.4%), perfume, eau de toilette (+ 19.7%) and school bag (+ 26.4%).
The inflation of local products year-on-year increased by + 24.9% while the acceleration in prices of imported products is greater than that of local products with an annual increase of + 27.1%.
Consumer Price Index for the whole country by consumption function :
General index : + 25.7% over one year and + 2.4% for the month of July 2020
- Food and non-alcoholic drinks: month + 2.9%, year + 31.1%
- Alcoholic beverages and tobacco: month + 1.9%, year + 17.1%
- Articles of clothing and footwear: month + 2.4%, year + 29.8%
- Housing, water, gas, electricity and other fuels: month + 2.2%, year + 21.0%
- Furniture, household items and routine household maintenance: month + 1.8%, year + 20.5%
- Health: month + 2.3%, year + 44.4%
- Transport: month + 0.8%, year + 10.9%
- Communications: month + 0.5%, year + 5.5%
- Leisure: month + 1.4%, year + 24.5%
- Education: month 1.2%, year + 11.7%
- Restaurants: month + 3.5%, year + 27.5%
- Miscellaneous goods and services: month + 2.2%, year + 20.0%
Annual change in the CPI :
July 2019: 123.5; March 2020: 141.2; April 2020: 144.0; May 2020: 147.2; June 2020: 151.7; July 2020: 155.3
CPI by geographic region (July 2020) :
Upward monthly variations in inflation at the regional level are observed in all geographic regions of the country. However, it should be noted that the most significant annualized regional variation (over 12 months) was observed in the North (+ 26.01%)
Metropolitan area : month + 2.4%, year + 25.6%
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);
Rest West : month + 2.3%, year + 25.8%
(Departments of the Southeast and the West without the metropolitan area);
North : month + 2.3%, year + 26.1%
(Department of North, North East and North West);
South : month + 2.4%, year + 25.8%
(Department of South, Grande-Anse and Nippes);
Transversal : month + 2.4%, year + 25.4%
(Department of Center and Artibonite).
See also :