Africa-Press – Cape verde. In the first quarter of 2022, the year-on-year rate of change recorded by the IPT (tourist price index) was 7.5%, a result that was 6.9 percentage points (pp) higher than the previous quarter, the INE said today.
According to the same source, the quarterly variation observed in the first quarter of 2022 was 7.6%, 4.3 pp higher than the value recorded in the previous quarter, which showed a variation of 3.3%, reflecting the seasonality pattern of this indicator. In the first quarter of 2021, this variation had been positive and less intense (0.7%), standing 6.9 pp below the current one.
Quarterly year-on-year change
Data from INE also show that the category of Hotels, Cafes and Restaurants showed a year-on-year change of 7.6%, 7.0 pp above that of the previous quarter. This variation corresponded to a contribution of 7.5 pp to the variation of the IPT Total.
It should be noted, according to the same source, that the Accommodation component, which corresponds to 67.8% of tourist expenditure, with special emphasis on Hotels, which corresponds to 64.5% of total tourist expenditure, recorded a positive contribution (15.8 pp) of the same sign as in the previous quarter.
Restaurants, whose weight represents around 31.1% of tourist expenditure, had a negative contribution (-0.7 pp) with the same sign (-0.7 pp) as in the previous quarter (Graph 2).
Furthermore, the price movement of overnight stays in hotels (with a contribution of 15.8 pp), of pensions (these with a greater positive contribution of (0.01 pp) and of hostels (with a contribution of 0.001 pp, were, according to INE, “completely determinant” for this behavior of the total IPT.
One IPT component contributed in the same direction as the others: Café bars and similar (0.3 pp). It is also worth noting three components of the IPT that presented negative contributions: Restaurants (-0.68 pp), and Tourist Villages (-0.39 pp) and Apartment Hotels (-0.09). The average price level of the remaining components remained practically constant in relation to the same quarter of the previous year.
quarterly variation
The rate of change in the quarter under analysis was 7.6%, says the INE, 4.3 pp higher than that recorded in the previous quarter, when it stood at 3.3%. In the same quarter of the previous year, there was a positive chain change of 6.9 pp compared to the fourth quarter of 2020.
“These results are the consequence of seasonal movements of a monthly nature, with a particular focus on the Accommodation component”.
Specifically, the variation in this quarter compared to the previous one reveals an increase in the prices of Accommodation Services, as evidenced by the data.
In the services provided by Hotels, there was an increase in prices of around 12.3%, Pousadas 4.0, Pensions 2.2% and Residential 0.2%.
In the services provided by Apartment Hotels and Tourist Villages, there were price decreases (respectively -14.6% and -1.7%). Restaurants (0.2%) and Café Bars and Similar (0.4%) presented price increases. In the remaining tourist services, there were no changes compared to the previous quarter.
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