The annual inflation rate in Cape Verde declined to 0.7 percent in September 2019, its lowest level since February, from 1.5 percent in the previous month. Prices advanced at a softer pace mainly for food & non-alcoholic beverages (1.5 percent vs 2.5 percent in August): restaurants & hotels (7.0 percent vs 7.6 percent) and alcoholic beverages & tobacco (6.0 percent vs 6.4 percent). In addition, cost fell for housing & utilities (-2.2 percent vs 0.6 percent) and transport (-2.0 percent vs -1.7 percent). Conversely, cost increased further for clothing & footwear (3.7 percent vs 1.0 percent); miscellaneous goods & services (3.1 percent vs 2.3 percent) and alcoholic beverages & tobacco (6.9 percent vs 6.4 percent). On a monthly basis, consumer prices went down 0.7 percent, after increasing 0.1 percent in the previous month. Inflation Rate in Cape Verde averaged 2.01 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 1.20 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 2.00 percent in 2020, according to our econometric models.