The cost of living in Cape Verde rose 0.7% in February

Prices in Cape Verde increased by 0.7% in February compared to January, accumulating a 7.3% increase over a year, indicate data released by the National Statistics Institute (INE).

According to the latest Consumer Price Index (CPI), prepared by INE, the year-on-year rate of change slowed down in February by 0.1 percentage points (pp) compared to the previous month, while the monthly variation was 0.1 pp higher.

“In the period under review, the CPI registered an average variation of the last 12 months of 8.0%, a value identical to that registered in the previous month,” said the INE indicator, quoted by Lusa.

The Cape Verdean authorities predicted that price hikes in the country would close in 2022, with an overall average increase of almost 8%, falling to less than half this year.

In documents supporting the draft State Budget law for 2023, the Cape Verdean government admits that “price levels should remain high, accelerating from 1.9% in 2021 to 7.9% in 2022,” the highest value in 25 years.

With information from Forbes

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