Annual inflation rate in Cape Verde rose to 1.7 percent in October of 2018 from 1.1 percent in September, reaching the highest in three months. Prices rebounded for food and non-alcoholic beverages (1.2 percent compared to -0.5 percent) and increased more for housing and utilities (2.8 percent compared to 2.2 percent) and education (1.8 percent compared to 1.7 percent). On the other hand, inflation eased for transport (4.9 percent compared to 5.6 percent); health (1.8 percent compared to 1.9 percent); recreation and culture (1.3 percent compared to 1.8 percent); and hotels, cafes and restaurants (1.1 percent compared to 1.5 percent); and prices fell more for clothing and footwear (-1.8 percent compared to -1.5 percent). On a monthly basis, consumer prices increased 0.3 percent after a 0.2 percent gain in September. Inflation Rate in Cape Verde averaged 2.03 percent from 1990 until 2018, 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 2.00 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 1.60 in 12 months time. In the long-term, the Cape Verde Inflation Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.