Cape Verde Consumer Confidence Rises Despite Savings Crisis
Consumer confidence in Cape Verde rose during the first quarter of 2026, continuing an upward trend that began in late 2025, according to the latest data released by the National Statistics Institute (INE).
The institute reported that the confidence indicator remained above the historical series average, signaling a cautious but growing optimism among Cape Verdean households. This marks a positive shift compared to the same period last year, reflecting what the INE describes as a “slight increase” in the economic morale of the archipelago’s families.
Mixed Views on Current Conditions
Despite the overall rise in confidence, the survey revealed a complex picture of daily life. When reflecting on the previous 12 months, many families reported that both their personal household finances and the national economy had actually worsened compared to the same quarter in 2025.
The most striking finding concerned the ability to save. A staggering 98.9% of respondents stated that the current economic climate makes it impossible to save money—a sharp spike from the 64.6% who felt that way a year ago. This 34.3 percentage point increase highlights a tightening squeeze on disposable income across the islands.
Future Outlook: Lower Unemployment, Higher Prices
Looking ahead to the next 12 months, Cape Verdeans expressed a mix of hope and concern. On the positive side, respondents generally anticipate a decrease in the national unemployment rate.
However, this optimism regarding jobs is tempered by inflation fears. Most families surveyed expect the prices of essential goods and services to continue rising through 2026 and into early 2027.
About the Survey
The INE’s consumer climate survey gauges public sentiment on personal and national financial health, as well as future saving intentions. Data is collected quarterly from families in the high-density municipalities of Praia, Santa Catarina, São Vicente, and Sal, with results released one month after each collection period.
Image: Pexels – Nico Marín
