Prices of goods imported by Cape Verde rise 1.1% in November

The prices of goods imported by Cape Verde increased 1.1% in November, 0.3 percentage points lower than in the previous month, the National Statistics Institute (INE) reported on Thursday.
According to the Foreign Trade Price Index, if compared with November last year, last month the prices of imported goods increased by 19%.
In the period under review, they recorded increases in consumer goods (0.6%), justified by the rise in prices of primary food products (3.6%) and processed food products (0.5%).
“This increase was mitigated with the decrease in the prices of other non-durable consumer goods (-10.2%),” INE explained. On the other hand, the price of Intermediate goods decreased (-0.1%), explained essentially with the decrease in the prices of processed products for various industries (-4.9%) and other processed products (-4.9%).
“This decrease was mitigated with the increase in prices of processed products for carpentry (18.9%),” continued that Cape Verdean institute, advancing further that the decrease in prices of capital goods (-2.4%) is due to the decrease in prices of machinery (-3.3%).
In imports by main sections, the most significant price increases in November were recorded for live animals and animal products (3.9%), as well as animal or vegetable fats and oils, prepared edible fats, animal or vegetable waxes (7.3%) and base metals and articles thereof (5.4%).
On the other hand, there were price reductions in products of the vegetable kingdom (-1.4%), products of food industries, beverages, alcoholic liquids and vinegar, tobacco and manufactured tobacco substitutes (-0.6%) and wood, charcoal and wood products, cork and its works (-23.8%).
Compared to November 2021, the underlying and volatile import indices recorded increases of 18.9% and 19.3%, respectively, the same source continued. As for the export price index, in November it registered a 2.2% increase over the previous month, while the year-on-year rate of change stood at 7.8%.
In this period, the underlying and volatile export price indices registered increases of 1.1% and 5.1% respectively, compared to the previous month, while they increased by 5.1% and 15.7% respectively compared to the month of November 2021.