The annual inflation rate in Cape Verde surged to 3.8 percent in October of 2021, from 2.4 percent in the previous month, reaching its highest point since January of 2013. Main upward pressure came from prices of transport (8 percent vs 8.4 percent in September); clothing & footwear (10.9 percent vs 6 percent); and furnishings (5.3 percent vs 4.6 percent). Costs also increased significantly for food & non-alcoholic beverages (3.3 percent vs 2.4 percent); housing & utilities (3.8 percent vs 1.7 percent); and alcoholic beverages & tobacco (4.9 percent vs 5.5 percent). On a monthly basis, consumer prices inched up 0.9 percent, following a 0.3 percent increase in September, mainly driven by prices of housing & utilities (2.2 percent vs 0.1 percent) and food & non-alcoholic beverages (0.7 percent vs 0.8 percent). source: INE, Cape Verde
Inflation Rate in Cape Verde averaged 1.91 percent from 1990 until 2021, 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. This page provides the latest reported value for - Cape Verde Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Cape Verde Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.
Inflation Rate in Cape Verde is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cape Verde Inflation Rate is projected to trend around 1.30 percent in 2022 and 1.20 percent in 2023, according to our econometric models.