Haiti - FLASH : Annual inflation continues to rise to 49.3% (January 2023)
Year-on-year inflation, the rise in the CPI (CPI, 100 in 2017-2018 https://www.haitilibre.com/en/news-26268-haiti-economy-a-new-index-of-consumer-prices-more-efficient.html ) still remains very high, with 49.3% in January 2023 against 48.2% in December 2022. The downward trend in the monthly bullish pace continues with 1.3% in January 2023 compared to 2.9% in December 2022.
The year-on-year increase observed in January 2023 is the result of almost all consumption functions, the most important of which are:
“Food products and non-alcoholic beverages”: +1.4% over one month and 48.6% over one year;
“Clothing and footwear”: +1.6% over one month and 47.3% over one year;
“Furniture, household items and routine household maintenance”: +0.9% over one month and 44.6% over one year
“Health” +1.8% over one month and 44.9% over one year);
“Transport” +0.4% over one month and 120.8% over one year.
Products with higher annual inflation:
Power:
Rice (on average 69.9%), meat (on average 58.2%), milk powder (on average 61.1%), edible oil (86.3%), peas (on average 33.9 %) and sugar (on average 70.6%).
Clothing and footwear:
Dress (58.2%), shirt (59.5%), men's pants (49.5%), shoes, sneakers (57.8%) and sandals (59.6%)
Furniture, household items and routine household maintenance:
Living room furniture (60.6%), dining room (63.2%) and laundry soap (52.9%).
Health:
Medicines (45.6%) and glasses with corrective lenses (59.1%).
Transportation:
Private vehicle maintenance (51.6%) and petrol and diesel (129.4%) and daily transport (145.5%).
As had been the case for several months, a higher price increase was observed for imported products, ie 61.5% year-on-year compared to 41.8% for local products.
Consumer Price Index for the whole country by consumption function:
General index: 49.3% over one year and +1.3% over the month of January 2023
Food and non-alcoholic beverages: month +1.4%, year 48.6%
Alcoholic beverages and tobacco: month -%, year 26.7%
Clothing and footwear: month +1.6%, year 47.3%
Housing, water, gas, electricity and other fuels: month +1.6%, year 36.1%
Furniture, household items and routine household maintenance: month +0.9%, year 44.6%
Health: month +1.8%, year 44.9%
Transport: month +0.4%, year 120.8%
Communication: month +0.5%, year 26.5%
Leisure: month +0.4%, year 30.9%
Education: month +0.5% year 11.2%
Restaurants: month +5.0%, year 44.9%
Miscellaneous goods and services: month +2.6%, year 41.8%
Annual change in the CPI (inflation):
Global CPI: 2022 January 24.0%; February 25.2%; March 25.9%; April 26.7%; May 27.7%; June 29.0%; July 30.5%; August 32.0%; September 38.7%; October 47.2%; November 45.5%; December 48.3% 2023 January 49.3%.
CPI for Local Products: 2022 January 19.1%; February 20.2%; March 20.2%; April 20.5%; May 21.0%; June 21.8%; July 23.2%; August 24.6%; September 30.9% October 39.0%; November 37.4%; December 40.9% 2023 January 41.8%
CPI Imported Products: 2022 January 33.0%; February 34.2%; March 36.2%; April 38.0%; May: 40.0%; June 41.7%; July 43.2%; August 44.8%; September 52%; October 61.0%; November 59.1; December 60.2 2023 January 61.5%
CPI by geographic region:
All regions contributed to the increase in inflation in December 2022. The most significant variation in January 2023 year-on-year concerns the Metropolitan Area (49.6%)
Metropolitan area: year +49.4% (+1.0% over one month)
(Port-au-Prince, Delmas, Pétion-ville, Carrefour and Croix des Bouquet);
Rest West: year +49.5% (+1.5% over one month)
(South-East and West Departments without the metropolitan area);
North: year +49.1% (+1.5% over one month)
(North, North East and North West Department);
South: year +49.6% (+1.5% over one month)
(Department of the South, Grande-Anse and Nippes);
Transversal: year +48.8% (+1.6% over one month)
(Department of Center and Artibonite).
See also :
https://www.haitilibre.com/en/news-38753-haiti-flash-inflation-close-to-50-december-2022.html
HL/ HaitiLibre