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Inflation rate in Haiti surpassed 30 percent in July

Port-au-Prince, Sep 7 (Prensa Latina) The inflation rate in Haiti stood at 30.5 percent in July, with a significant variation compared to previous months, according to a report from the Institute of Statistics.

The Institute explained that imported inflation and fuel shortages had an impact on prices in the local market.

Food and non-alcoholic beverages, clothing, footwear, and furniture rose to 3.9 percent, compared to June, and increased to 33.6 percent annually.

On the other hand, imports and local products increased 43.2 percent and 23.2 percent year-on-year, respectively, and the most significant variations were seen in Sud and Ouest departments.

The inflation rate that Haiti has been reporting is one of the highest in the last decade and have resulted in demands from thousands of people who have been taking to the streets for two weeks to denounce the country’s severe situation.

In August, financier Etzer Emile recalled that this inflation level had not been registered in Haiti since 2003, and called on authorities to prevent an “economic catastrophe.”