Import prices decrease in December 2024. Exports increase

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Import prices decrease in December 2024. Exports increase
Import prices decrease in December 2024. Exports increase

Africa-Press – Cape verde. The prices of imported products decreased by 0.9% in December 2024, 1.1 percentage points (p.p.) lower than the figure recorded in the same month, while the export price index stood at 149.6, corresponding to an increase of 0.5% compared to the previous month.

According to the INE, in December 2024, the import price index stood at 140.3, having registered a decrease of 0.9% compared to the previous month.

The underlying import index registered a decrease of 1.5% and the volatile index increased by 0.8%, compared to the figure recorded in the previous month.

The INE indicates that the increase in prices occurred in the following categories of groups: “Consumer goods” (0.2%): justified by the increase in the prices of “Processed food products” (1.6%); “Intermediate Goods” (2.8%): the increase in prices was mainly explained by the increase in the prices of “Processed products for carpentry” (24.7%);

On the other hand, the decrease in prices occurred in the following group categories: “Capital goods” (-8.8%) due to the decrease in the prices of “machinery” (-11.0%); and “Fuels” (-1.6%) with the decrease in the only subcategory, called “Fuels” (-1.6%).

In year-on-year terms, the prices of imported products increased by 0.7% and the underlying and volatile import indices increased by 0.5% and 1.1%, respectively.

Export Price Indexes

According to the same source, in December 2024, the export price index stood at 149.6, corresponding to an increase of 0.5% compared to the previous month.

The underlying and volatile export indices recorded increases of 0.5% and 0.4% respectively, compared to the previous month.

In year-on-year terms, the rate of change in the export price index stood at 22.5%.

Compared to December 2023, the underlying and volatile export indices increased by 30.2% and 0.5%, respectively.

Terms of Trade Indexes

In the period under analysis (December 2024), the Terms of Trade Index (ITT) stood at 106.6, an increase of 1.3% compared to the previous month

In year-on-year terms, the Terms of Trade Index (ITT) stood at 21.7%.

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