The annual inflation rate in Cape Verde fell to 0.3 percent in May of 2020 from 1.3 percent in April, reaching its lowest level since December of 2017. Prices slowed mostly for food & non-alcoholic beverages (2.6 percent vs 4.4 percent); alcoholic beverages & tobacco (2.1 percent vs 3.4 percent); furnishings (0.3 percent vs 1.3 percent); health (5.5 percent vs 7.3 percent); restaurants & hotels (4.9 percent vs 5.5 percent) and recreation & culture (0.6 percent vs 1 percent). In addition, lower costs were observed for transport (-2.3 percent vs -0.7 percent); housing & utilities (-1.8 percent vs -1.7 percent); communication (-1.4 percent vs -1.3 percent) and clothing & footwear (-0.8 percent vs 0.2 percent). On a monthly basis, consumer prices were down 0.5 percent, after dropping 0.3 percent in the previous month.
Inflation Rate in Cape Verde averaged 1.99 percent from 1990 until 2020, 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 July of 2020.
Inflation Rate in Cape Verde is expected to be -0.10 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 1.40 in 12 months time. In the long-term, the Cape Verde Inflation Rate is projected to trend around 1.70 percent in 2021 and 1.60 percent in 2022, according to our econometric models.