Prices of imported products in Cape Verde increased by 17%

The prices of imported products rose by 1% in September 2023, 1.3 percentage points (p.p.) more than in the previous month, INE announced on Monday October 23.
According to INE data, the import price index stood at 138.9 in September 2023, up 1% on the previous month. The underlying and volatile import indices rose by 1.1% and 0.6% respectively compared to the previous month.
The increase in prices occurred in the “Intermediate Goods” group categories (2.6%), explained essentially by the rise in prices of “processed construction products” (8.1%) and “Fuels” (3.4%) due to the rise in the only subcategory called “Fuels” (3.4%).
On the other hand, prices fell in the “Consumer goods” (-1.8%) group categories, due to the fall in prices for “Processed food products” (-5.3%) and “Capital goods” (-6.6%) due to the fall in prices for “machinery” (-8.5%). In year-on-year terms, INE reports that the import price indices rose by 17.0%, while the underlying and volatile import indices rose by 17.2% and 16.3% respectively.
The export price index stood at 114.9 in September 2023, down 0.8% on the previous month. “In September 2023, the underlying and volatile export indices registered decreases of 0.7% and 1.1% respectively, compared to the previous month,” it reads.
In year-on-year terms, in September 2023, the year-on-year rate of change in the export price index stood at 8.3% and the underlying and volatile export indices increased by 7.0% and 12.2% respectively.

About Geraldine Boechat 2757 Articles
Senior Editor for Medafrica Times and former journalist for Swiss National Television. former NGO team leader in Burundi and Somalia