The annual inflation rate in Cape Verde eased for the fifth month running to 7.6% in December of 2022, down from 8% in November and a 14-year high of 9% in July. It was the softest inflation reading since April 2022, largely due to a slowdown in prices of food & non-alcoholic beverages (15.8% vs 17.2% in November) and alcoholic beverages & tobacco (14.3% vs 14.8%). On a monthly basis, consumer prices were flat, after increasing by 0.7% in the previous month. source: INE, Cape Verde

Inflation Rate in Cape Verde averaged 2.17 percent from 1990 until 2022, 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 January of 2023.

Inflation Rate in Cape Verde is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cape Verde Inflation Rate is projected to trend around 4.00 percent in 2024, according to our econometric models.

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Cape Verde Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-14 01:00 PM Nov 8% 8.2% 8%
2023-01-16 11:00 AM Dec 7.6% 8% 7.8%
2023-02-14 11:00 AM Jan 7.6% 7.3%


Related Last Previous Unit Reference
Inflation Rate 7.60 8.00 percent Dec 2022
Food Inflation 15.80 17.20 percent Dec 2022
Inflation Rate MoM 0.00 0.70 percent Dec 2022
CPI Transportation 120.93 121.98 points Dec 2022
CPI Housing Utilities 107.30 107.52 points Dec 2022
Core Inflation Rate 7.20 7.10 percent Dec 2022
Core Consumer Prices 114.00 113.60 points Dec 2022
Consumer Price Index CPI 114.97 114.93 points Dec 2022

Cape Verde Inflation Rate
In Cape Verde, the three main components of the consumer price index are: Food and Non-Alcoholic Beverages (25 percent of total weight); Housing and Utilities (25 percent) and Transport (13 percent). Others include: Clothing and Footwear (7 percent); Miscellaneous Goods and Services (7 percent); Household Contents, Equipment and Maintenance (5 percent). Communication, Restaurants and Hotels, Recreation and Culture, Health, Education and Alcoholic Beverages and Tobacco account for the remaining 19 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
7.60 8.00 10.20 -4.40 1990 - 2022 percent Monthly
2018=100

News Stream
Cape Verde Inflation Rate Hits 8-Month Low in December
The annual inflation rate in Cape Verde eased for the fifth month running to 7.6% in December of 2022, down from 8% in November and a 14-year high of 9% in July. It was the softest inflation reading since April 2022, largely due to a slowdown in prices of food & non-alcoholic beverages (15.8% vs 17.2% in November); alcoholic beverages & tobacco (14.3% vs 14.8%); restaurants & hotels (7.4% vs 7.6%) and health (6.9% vs 8.4%). On a monthly basis, consumer prices were flat, after increasing by 0.7% in the previous month.
2023-01-16
Cape Verde Inflation Rate Slows to 6-Month Low
The annual inflation rate in Cape Verde eased for the fourth month running to 8% in November of 2022, down from 8.2% in October and a 14-year high of 9% in July. It was the lowest reading since May, as prices slowed mostly for transportation (8.7% vs 10% in October) and food & non-alcoholic beverages (17.2% vs 17.8%). On the other hand, prices advanced faster for other CPI items such as alcoholic beverages & tobacco (14.8% vs 14.6%); recreation & culture (7.7% vs 6%) and restaurants & hotels (7.6% vs 6.7%). On a monthly basis, consumer prices increased by 0.7%, up from a 0.4% rise in the prior month.
2022-12-16
Cape Verde Inflation Rate Eases to 4-Month Low
The annual inflation rate in Cape Verde softened to a four-month low of 8.2% in October of 2022 from 8.7% in the previous month. Prices slowed down mostly for food & non-alcoholic beverages (17.8% vs 17.9% in September); alcoholic beverages & tobacco (14.6% vs 15.3%) and health (8.4% vs 9.6%). On a monthly basis, consumer prices were up by 0.4%, the same pace as in the previous month.
2022-11-17