Identifier
Created
Classification
Origin
06PORTAUPRINCE2310
2006-12-04 18:49:00
UNCLASSIFIED
Embassy Port Au Prince
Cable title:
HAITI: INFLATION CONTINUES IN OCTOBER
how-toVZCZCXRO5775 PP RUEHQU DE RUEHPU #2310 3381849 ZNR UUUUU ZZH P 041849Z DEC 06 FM AMEMBASSY PORT AU PRINCE TO RUEHC/SECSTATE WASHDC PRIORITY 4821 INFO RUEHZH/HAITI COLLECTIVE PRIORITY RUEHBR/AMEMBASSY BRASILIA PRIORITY 1309 RUEHSA/AMEMBASSY PRETORIA PRIORITY 1144 RUEHQU/AMCONSUL QUEBEC PRIORITY 0637 RUCPDOC/DEPT OF COMMERCE WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
UNCLAS PORT AU PRINCE 002310
SIPDIS
SIPDIS
STATE FOR WHA/CAR, EB/IFD, S/CRS, STATE PASS TO USAID FOR
LAC/CAR, INR/IAA (BEN-YEHUDA),COMMERCE FOR SCOTT SMITH,
TREASURY FOR JEFFREY LEVINE, WHAT/EX PLEASE PASS TO USOAS
E.O. 12958: N/A
TAGS: ECON EAID PGOV PINS HA
SUBJECT: HAITI: INFLATION CONTINUES IN OCTOBER
UNCLAS PORT AU PRINCE 002310
SIPDIS
SIPDIS
STATE FOR WHA/CAR, EB/IFD, S/CRS, STATE PASS TO USAID FOR
LAC/CAR, INR/IAA (BEN-YEHUDA),COMMERCE FOR SCOTT SMITH,
TREASURY FOR JEFFREY LEVINE, WHAT/EX PLEASE PASS TO USOAS
E.O. 12958: N/A
TAGS: ECON EAID PGOV PINS HA
SUBJECT: HAITI: INFLATION CONTINUES IN OCTOBER
1. Summary: Inflation for October 2006 was 0.4 percent.
Prices for local goods and services increased by 0.7 percent
while the pace of growth for imported goods and services was
0.4 percent. End Summary.
2. According to data released by the Haitian Institute of
Statistics, overall inflation for October 2006 was 0.4
percent. The GoH measures inflation by calculating the
monthly increase in the Haitian consumer price index (CPI),
which is composed of the following key elements: food,
beverages, and tobacco (accounted for 50.3 percent of the
index),transportation (13.74 percent),rent and utilities
(11.05 percent).
3. Annual inflation rate dropped to 11.8 percent from 12.4
percent a month earlier, which brings the GoH closer to the
ten percent inflation target for fiscal year 2007 which
started on October 1, 2006. Much of October's rise was due
to increases in rent and utilities, which were up by two
percent for the month. Prices of food and beverages
increased by 13.7 percent year on year compared with 13.3
percent rise in September, while price growth for
transportation dropped to 0.3 percent from 3.8 percent a
month earlier. The pace of price for health care kept the
same momentum, increasing by 9.6 percent as in September.
4. Comment: Inflationary pressures in the economy are also
being dampened by gradual monetary tightening and the nominal
stability of the Gourde exchange rate against the U.S. dollar
(currently at about 39.75 Gourdes for 1 USD).
SANDERSON
SIPDIS
SIPDIS
STATE FOR WHA/CAR, EB/IFD, S/CRS, STATE PASS TO USAID FOR
LAC/CAR, INR/IAA (BEN-YEHUDA),COMMERCE FOR SCOTT SMITH,
TREASURY FOR JEFFREY LEVINE, WHAT/EX PLEASE PASS TO USOAS
E.O. 12958: N/A
TAGS: ECON EAID PGOV PINS HA
SUBJECT: HAITI: INFLATION CONTINUES IN OCTOBER
1. Summary: Inflation for October 2006 was 0.4 percent.
Prices for local goods and services increased by 0.7 percent
while the pace of growth for imported goods and services was
0.4 percent. End Summary.
2. According to data released by the Haitian Institute of
Statistics, overall inflation for October 2006 was 0.4
percent. The GoH measures inflation by calculating the
monthly increase in the Haitian consumer price index (CPI),
which is composed of the following key elements: food,
beverages, and tobacco (accounted for 50.3 percent of the
index),transportation (13.74 percent),rent and utilities
(11.05 percent).
3. Annual inflation rate dropped to 11.8 percent from 12.4
percent a month earlier, which brings the GoH closer to the
ten percent inflation target for fiscal year 2007 which
started on October 1, 2006. Much of October's rise was due
to increases in rent and utilities, which were up by two
percent for the month. Prices of food and beverages
increased by 13.7 percent year on year compared with 13.3
percent rise in September, while price growth for
transportation dropped to 0.3 percent from 3.8 percent a
month earlier. The pace of price for health care kept the
same momentum, increasing by 9.6 percent as in September.
4. Comment: Inflationary pressures in the economy are also
being dampened by gradual monetary tightening and the nominal
stability of the Gourde exchange rate against the U.S. dollar
(currently at about 39.75 Gourdes for 1 USD).
SANDERSON