Home Economy Inflation stable in December1 min read

Inflation stable in December1 min read

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Chart shows National Consumer Price Index (CPI) percentage changes by CPI towns.

The country’s inflation better known as the change in the National Consumer Price Index (CPI) has rose +0.3 per cent to 106.9 in November but remain stable at 106.9 in December 2019.

Solomon Islands National Statistics Office (SINSO) revealed in its latest statistical report released by the Government Statistician Douglas Kimi recently.

“Through the year, compared to the same respective months in 2018, the National CPI increased 2.8 percent and 2.7 percent respectively,” Mr. Kimi said according to the report.

The major changes in other expenditure categories from the previous month include:

  • Food and Non-Alcoholic Beverages: November (+0.4%), December (-0.7%).
  • Alcoholic beverages, tobacco and narcotics: November (+0.8%), December (+1.0%).
  • Housing, water, electricity, gas and other fuels: November (+0.4%), December (+0.1%).
  • Transport: November (+0.3%), December (+0.1%).

“The Solomon Islands inflation rates for the months of November and December 2019 calculated on a 3 months moving average basis were +2.4%, up 0.3 percentage points in November, and +2.8%, up 0.4 percentage points in December 2019.

“The corresponding inflation rates for imported items were -0.9%, and -0.7% in November and December 2019 respectively, while other (domestic) items inflation rates were +4.0% and +4.5 % for the respective months,” Mr. Kimi quoted the report.

He added that the Solomon Islands underlying rates of inflation based on a 3 months moving average for the month of November 2019 were observed between +0.4% and +2.3% while for the month of December 2019, the underlying inflation rate was recorded between +0.9% and +2.6%.

On the headline inflation rates for the respective provincial towns calculated on a 3 months moving average basis were:

Honiara: November (+2.7%) and December (+3.0%) up +0.2 and +0.3 percentage points respectively; Auki: November (+3.4%) and December +3.7%, dropped -0.1 percentage points in November but rose +0.3 percentage points in December 2019; Gizo: November (+0.5%) and December 2019 (+0.2%), dropped -0.3 percentage points in November and December 2019 respectively and Noro: November (+2.9%) and December (+2.8%), down -0.2 and -0.1 percentage points respectively.

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