CPI drops by 0.9 percent in March 2024
The National Consumer Price Index (CPI) fell by 0.9 percent to 125.9 during the month of March 2024.
The National Statistics Office released the latest CPI bulletin on Tuesday 14th May 2024.
Deputy Government Statistician Samson Kanamoli said through the year, compared to the same month in 2023, the National CPI rose by 5.0 percent.
He said the most significant changes by major expenditure groups from the previous month include:
- Food and Non-Alcoholic Beverages: (+0.9%)
- Alcoholic beverages, tobacco and narcotics: (-8.8%)
- Housing, water, electricity, gas and other fuels: (+0.2%)
- Furnishings, household equipment & routine household maintenance: (+4.2%)
- Transport: (+0.7%)
- Education: (+0.8%)
- Restaurants & hotels: (+0.8%)
Mr Kanamoli reiterated from the report, the Solomon Islands inflation rate calculated on a 3-months moving average basis was +5.0.
“The corresponding inflation rates for imported items was +4.6% while other (domestic) items inflation rate was +5.2%.
“The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +2.9% and +3.3%.’’
The headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: (+5.2%); Auki: (+4.1%), Gizo: (+1.2%) and Noro: (+2.8%).
The main percentage changes in index by CPI town and expenditure group from the previous month include:
Honiara: (-0.9%)
The most significant changes in movements include:
- Food and Non-Alcoholic Beverages: (+1.3%)
- Alcoholic beverages, tobacco and narcotics: (-9.2%)
- Housing, water, electricity, gas and other fuels: (+0.3%)
- Furnishings, household equipment & routine household maintenance: (+5.1%)
- Transport: (+0.6%)
- Restaurants & culture: (+0.9%).
Auki: (-0.6%)
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: (-1.0%)
- Alcoholic beverages, tobacco and narcotics: (-3.8%)
- Housing, water, electricity, gas and other fuels: (-0.1%),
- Education: (+3.2%)
- Restaurants & culture: (-0.1%)
Gizo: (-2.6%)
The main drivers to these movements were:
- Food and Non-Alcoholic Beverages: (-5.8%)
- Alcoholic beverages, tobacco and narcotics: (+2.0%)
- Housing, water, electricity, gas and other fuels: (+0.3%)
Noro: (+0.5%)
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: (-0.1%)
- Alcoholic beverages, tobacco and narcotics: (+0.4%)
- Housing, water, electricity, gas and other fuels: (-0.2%)
- Education: (+17.3%)
- Miscellaneous goods & services: (+1.7%)
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