The annual inflation rate in Cape Verde rose to 1.5 percent in May 2019 from 1.1 percent in the previous month. It was the highest inflation rate since last November, as prices rebounded for food & non-alcoholic beverages (1.2% vs -0.6% in April); clothing & footwear (0.9% vs -1.4%) and furnishings (0.5% vs -0.2%). Additional upward pressure came mostly from restaurants & hotels (5.9% vs 5.3%); alcoholic beverages & tobacco (5.1% vs 3.6%) and health (2.4% vs 1.1%). In contrast, cost slowed for transport (0.9% vs 5%) and housing & utilities (2.3% vs 2.5%). On a monthly basis, consumer prices inched up 0.5 percent, after increasing 0.1 percent in the previous month. Inflation Rate in Cape Verde averaged 2.02 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.
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 1.80 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.