Cabo Verde: Prices fell again in November – INE

Prices in Cabo Verde fell by 0.1% in November, repeating the decline of the previous month, according to the Consumer Price Index (CPI) of the Cape Verdean National Institute of Statistics (INE), to which Lusa had access on Tuesday.

The accumulated rate of change in the CPI remains negative in 2020 (January to October), reflecting an overall drop in prices of 0.8%, 1.8 percentage points lower than the same period in 2019, says INE.

In November, according to the same data, the CPI registered an average change, over the 12-month period, of 0.8%, a figure 0.1 percentage points lower than the previous month.

The CPI had already recorded a 0% change in June, precisely at the beginning of the plan for gradual deconfinement after two months (April and May) of a state of emergency to contain the Covid-19 pandemic.

The September trend, also nil, as in August, compared with the 0.4% rise in prices in July and the 0.5% drop in May and 0.3% drop in January, in addition to the 0.1% rise in February. In March, prices had also not fluctuated and in April they fell again, 0.3%.

In October and November, they fell at a monthly rate of 0.1%.

The Cape Verdean government included a forecast for accumulated inflation (January to December) of 1.2% in the 2020 State Budget. However, due to the economic crisis caused by the Covid-19 pandemic, the proposed amending budget, which came into force in August, reduced the forecast for the inflation rate expected in 2020 to 1.0%.

Prices in Cabo Verde rose by 1.9% in 2019, according to data released by INE in January, within the range defined by the government.