Cape Verde’s consumer prices down 1 pct in May

The consumer price index of Cape Verde declined by 1 percent year-on-year in May, led by a decrease in transport and fuel prices, said last week the National Institute of Statistics.

Citing official data, Cape Verdean newspaper A Semana reported that the index had further dropped from the 0.9-percent fall registered in April.

The decline in transport and fuel costs contributed to the overall decrease in May, the statistics institute said. Prices for transport retreated 4.1 percent year-on-year in May, while prices for water, electricity, fuel and housing rents plunged by 6.7 percent from the prior-year period.

Prices for hotels and restaurants experienced the biggest hike in May, up 3 percent year-on-year, the report added.