The annual inflation rate in Cape Verde fell to 0.9 percent in December of 2018 from 1.7 percent in the prior month. It is the lowest inflation rate since February, as prices rose less mostly for food & non-alcoholic beverages (0.7% vs 1.2% in November) and transport (4.0% vs 5.2%). In addition, cost fell for housing & utilities (-0.2% vs 2.6%); miscellaneous goods & services (-0.4% vs 0.8%) and clothing & footwear (-0.1% vs -1.0%). In contrast, prices rose faster for: furnishings (2.2% vs 1.9%); recreation & culture (1.6% vs 1.3%) and hotels & restaurants (1.6% vs 1.4%). On a monthly basis, consumer prices dropped 0.3 percent, after being unchanged in the previous 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 1.60 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 2.00 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.