Inflation Cape Verde 2024
Average inflation: 0.9%
Current Inflation
Inflation is very low at 0.9%, well below the ECB target.
Peak and Trough
The highest inflation was in June at 1.9%. The lowest inflation was in February at -0.5%.
- Highest month
- June: 1.9%
- Lowest month
- February: -0.5%
- Difference
- 2.4 percentage points
- Months with data
- 10 of 12
Category Insights
The highest price increase was in Energy with an average of 2.4%. The lowest price increase was in Food with an average of 1.1%.
- Highest increase
- Energy: 2.4%
- Lowest increase
- Food: 1.1%
Historical Context
Current inflation is 2.1% lower than the 5-year average of 3.0%.
- 5-year average
- 3%
- 10-year average
- 1.7%
- All-time high (2022)
- 7.9%
- All-time low (2016)
- -1.4%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +2.9 percentage point.
- Change vs. previous year
- -2.9 percentage points
- Largest monthly swing
- February: -7.8 percentage points
ECB Target
Inflation is 1.1% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €100.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 0.0% | -7.4 |
| February | -0.5% | -7.8 |
| March | 0.3% | -5.3 |
| April | 1.0% | -3.8 |
| May | 1.5% | -2.3 |
| June | 1.9% | -1.6 |
| July | 1.6% | -1.0 |
| August | 1.0% | -1.9 |
| September | 1.0% | -1.6 |
| October | 1.7% | -0.3 |
| Average | 0.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.Not all months available yet.