The annual inflation rate in Cape Verde was at 1.7 percent in November of 2018, unchanged from the previous month. Prices advanced at a faster pace for transport (5.2 percent compared to 4.9 percent in October) and hotels, cafes and restaurants (1.4 percent compared to 1.1 percent). Also, cost of clothing and footwear fell less (-1.0 percent compared to -1.8 percent). Meanwhile, prices eased for housing and utilities (2.6 percent compared to 2.8 percent) and education (0.8 percent compared to 1.8 percent). Additionally, inflation was steady for food and non-alcoholic beverages (at 1.2 percent, the same as in October); health (1.8 percent) and recreation and culture (1.3 percent). On a monthly basis, consumer prices were unchanged, after a 0.3 percent gain in the prior month. Inflation Rate in Cape Verde averaged 2.03 percent from 1990 until 2018, reaching an all time high of 10.20 percent in October of 2008 and a record low of -4.40 percent in February of 2004.
Inflation Rate in Cape Verde is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Cape Verde to stand at 1.60 in 12 months time. In the long-term, the Cape Verde Inflation Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.