The annual inflation rate in Cape Verde picked up to 1.9 percent in December 2019 from 0.7 percent in November 2019, reaching its highest level since July 2018. Main upward pressure came from prices of food & non-alcoholic beverages (4.3 percent vs 2 percent in November); restaurants & hotels (8 percent vs 8.2 percent); alcoholic beverages & tobacco (7.2 percent vs 6.7 percent); transport (0.3 percent vs -2 percent) and health (3.7 percent vs 3.1 percent). Conversely, cost fell for housing & utilities (-0.1 percent vs -2.5 percent); communications (-0.3 percent, the same pace as in November) and furnishings (-0.2 percent vs -0.3 percent). On a monthly basis, consumer prices inched up 0.9 percent, after being flat in the preceding month.
Inflation Rate in Cape Verde averaged 2 percent from 1990 until 2019, 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.
Inflation Rate in Cape Verde is expected to be 1.40 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 1.30 in 12 months time. In the long-term, the Cape Verde Inflation Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.