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Prices of food imported by Cape Verde rose by almost 20% in 2022

The prices of products imported by Cape Verde rose by 19.9% ​​in 2022, up 21.3 percentage points from the previous year, the National Institute of Statistics (INE) said on Tuesday.

According to the foreign trade price index, last year the rate of change in prices for exported products on an annualized basis was 6.9%, which is 9.3 percentage points higher than the previous year.

However, in the same reporting year, the annualized rate of change recorded by the Terms of Trade Index was minus 10.9%, down 9.5 percentage points from the previous year.

On a monthly basis, INE concluded that the prices of goods imported by Cape Verde decreased by 2% in December 2022, up 0.9 percentage points from the previous month.

In turn, the basic and volatile import indices increased by 2.1% and 1.7%, respectively, compared with the November figures.

Compared to December 2021, the core and volatile import indices recorded an increase of 19.8% and 22.1%, respectively, continues the Cape Verde Institute.

In 2022, INE concluded that there was an increase in the prices of consumer goods (0.4%) and other consumer durables (12.6%).

“This growth was mitigated by a decline in prices for “processed foodstuffs” (-2.2%),” the same source clarified, justifying the increase in the category “intermediate goods” (6.4%) by the increase in prices for “products processed for construction “. (11.0%) and “other processed products” (20.3%).

“This growth was offset by a decline in prices for “industrial products for various industries” (-2.8%),” he added, noting that the decline in prices in the category of “manufacturing goods” (-3.8%) is due to decrease in prices for “automatic machines” (-4.6%).

“Price increases in the ‘fuel’ category (2.5%) are due to price increases in the single sub-category called ‘fuel’ (2.5%)”, also according to the Cape Verde INE, which recorded a larger price increase for mineral products (2.5%), plastics and products made from it, rubber and products made from it (28.7%), as well as ordinary metals and products made from them (24.5%).

The most significant decline in prices “was observed for food products, drinks, alcohol-containing liquids and vinegar, tobacco and its industrial substitutes (-1.9%), machinery and equipment, electrical materials and their parts, equipment (-3.4%) and transport materials (-2.4%),” he concluded, noting that this decline contributed to the weakening of the positive dynamics of the global import index.

Still on a monthly basis and relative to the export price index in December, they rose by 2.9% compared to the previous month, while the core and volatility indexes recorded an increase of 3.9% and 0.2% respectively on compared to the previous month. last month.

Author: Portuguese
Source: CM Jornal

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