Inflation stands at 27% in April 2024

Inflation stands at 27% in April 2024
Inflation stands at 27% in April 2024

The general consumer price index (CPI) showed a monthly increase of 1.8% in April compared to 3.1% last March. Basically, this causes an increase in the inflation rate to 27%. Local and imported products respectively influenced the growth of the inflation rate to 27.6% and 26.7%, according to data published by the Haitian Institute of Statistics and Informatics in its CPI corner section.

The regions of the country where the upward trend in the inflation rate is quite significant are the southern regions of the country which show a rate of 28.7%, part of the West department including Gressier, Mariani, Carrefour, Léogane (rest West), which displays 28.5% and the metropolitan area of ​​Port-au-Prince which displays 27.0%. At the same time, there is the Center and Artibonite where the inflation rate is at 26.3% and the departments of North, North-East and North-West which are at 26.2% where this rate is the lowest.

Among the products that had the greatest influence on the CPI during the period were Food Products and Non-Alcoholic Beverages, including Rice (on average 50.4%), Corn (on average 40.4%), Millet (40.7%), Meats (on average 39.6%), Fresh fish (58.3%), Herring (on average 52.7%), Edible oil (48.8%), Lemon (80.2%) and banana (39.6%). Articles of clothing and shoes: Making clothes (28.2%), Dress (29.4%), Shirt (25.1%) and Socks (27.1%). Housing, water, gas, electricity and other fuels: Housing rent (31.3 %), Water (15.2%) and Charcoal (27.3%). Furniture, household items and routine household maintenance: Living room furniture (29.4%), Curtains (20.5%) and Fan (31.5%). Restaurants: Meals taken outside (25.0%), mentioned the IHSI in its report. Indeed, the CPI which stood at 391.3 in March rose to 398.2 in April, an increase of 1.8% in April compared to March.

On the other hand, the cost of living in Haiti is explained by the increase in the cost of certain food products and non-alcoholic drinks and other service or consumer products whose price has increased by more than 20% and even 50 % over one year. There are also socio-political unrest which have hampered the smooth functioning of economic activities and which have serious consequences on the country’s economy.

According to the World Food Program, there is a fairly significant food shortage in Haiti where more and more families find themselves unable to feed themselves adequately, especially in the metropolitan region of Port-au-Prince where a good part of the territory is besieged by armed groups.

Oberde Charles

-

-

PREV Geopolitical Tensions and Chinese Demand Push Up Oil Prices
NEXT To lower electricity prices, the next government will have to change the rules