Soaring energy costs fuel inflation in Cape Verde

28 December 2005

Cidade da Praia, Cape Verde, 28 Dec – Cape Verde’s inflation rate rose for the second month in a row in November, after 18 months of deflation, due to climbing energy prices, according to official figures.

The National Statistics Institute has released data showing that average inflation in November for the previous year increased by 0.3 percent – three times more than in October.

Industrial products and energy prices rose 16.2 percent up until November after peaking at 17.3 percent in October.

Consumer prices in November increased 1.2 percent compared to the same month last year, registering a slight percentage fall over October’s figure. (macauhub)