CPI rises 0.3 percent in February to 0.5 percent in March 2023
The National Consumer Price Index (CPI) rose 0.3 percent to 119.2 in February 2023 and 0.5 per cent to 119.8 in March 2023.
The National Statistics Office released the bulletin on Monday 1st May 2023.
The Government Statistician Douglas Kimi said through the year, compared to the same months in 2022, the National CPI rose by 9.0 and 9.5 percent respectively.
He said the most significant changes by major expenditure groups from the previous month include:
- Food and Non-Alcoholic Beverages: Feb: (+2.4%), March: (+2.7%)
- Alcoholic beverages, tobacco and narcotics: Feb: (-4.8%), March (-4.3%)
- Clothing & footwear: Feb: (+3.5%), March (+1.3%)
- Housing, water, electricity, gas and other fuels: Feb: (+0.3%), March (+0.7%)
- Furnishings, household equipment & routine household maintenance: Feb: (+1.3%), March (-0.1%)
- Transport: Feb: (-0.1%), March (-0.1%)
- Recreation & culture: Feb: (-0.5%), March (-0.2%)
- Education: Feb: (+1.2%), March (+0.0)
- Miscellaneous goods & services: Feb: (+0.8%), March (+0.1%)
Mr Kimi said the Solomon Islands inflation rates calculated on a 3-months moving average basis were February 2023 (+8.9%) and March 2023 (+9.2%).
“The corresponding inflation rates for imported items were +10.0% in February and
9.5% in March, while other (domestic) items inflation rate were +8.5% in February and
9.1% in March 2023.
“The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +4.9% and +6.8% in February 2023 and +5.0% and +6.9% in March 2023.”
The headline inflation rates for the respective provincial towns calculated on a 3months moving average basis were: Honiara: Feb (+9.1%), Mar (+9.0%); Auki: Feb (+8.1%), Mar (+7.5%); Gizo: Feb (+9.3%), Mar (+9.5%) and Noro: Feb (+4.5%), Mar (+5.1%).
The main percentage changes in index by CPI town and expenditure group from the previous month include:
Honiara: February (-0.2%); March (-0.1%)
The most significant changes in movements include:
- Food and Non-Alcoholic Beverages: February (+1.6%); March (+1.8%)
- Alcoholic beverages, tobacco and narcotics: February (-4.5%); March (-5.3%) Clothing & footwear: February (4.0%); March (+0.0)
- Housing, water, electricity, gas and other fuels: February (-0.7%); March (+0.7%)
- Furnishings, household equipment & routine household maintenance: February
(+1.6%); March (+0.0) Transport: February (-0.1%); March (+0.1%) • Miscellaneous goods & services: February (+0.8%); March (+0.0)
Auki: February (+0.2%); March (+1.1%) The main contributor to the movements were:
- Food and Non-Alcoholic Beverages: February (+1.0%); March (+3.7%)
- Alcoholic beverages, tobacco and narcotics: February (-2.0%); March (-1.6%)
- Clothing & footwear: February (+0.0); March (+0.6%)
- Housing, water, electricity, gas and other fuels: February (-0.8%); March (+0.9%)
- Furnishings, household equipment & routine household maintenance: February (+0.0); March (-4.7%)
- Transport: February (+0.0); March (-4.9%)
- Restaurants & hotels: February (+0.0); March (+0.2%)
- Miscellaneous goods & services: February (+0.0); March (+3.8%)
Gizo: February (+0.5%); March (-1.9%) The main drivers to this movements were:
- Food and Non-Alcoholic Beverages: February (+3.1%); March (-2.9%)
- Alcoholic beverages, tobacco and narcotics: February (-7.8%); March (-7.3%)
- Clothing & footwear: February (-0.3%); March (-0.6%)
- Housing, water, electricity, gas and other fuels: February (-1.1%); March (+1.1%)
- Furnishings, household equipment & routine household maintenance: February (+0.2%), March (+0.0)
- Transport: February (+0.5%); March (+0.0)
- Recreation & culture: February (+1.6%); March (+0.0);
- Education: February (+0.2%); March (+0.0)
- Miscellaneous goods & services: February (+2.4%); March (+0.0)
Noro: February (+1.3%); March (-0.2%) The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: February (+1.9%); March (-1.0%)
- Alcoholic beverages, tobacco and narcotics: February (-0.8%); March (-0.7)
- Clothing & footwear: February (+0.1%); March (+0.0);
- Housing, water, electricity, gas and other fuels: February (+0.4%); March (+2.4%)
- Furnishings, household equipment & routine household maintenance: February
(+0.8%); March (+0.1%) Transport: February (-0.7%); March (+0.3%)
- Recreation & culture: (-10.3%); February (+0.0); March (-7.0%)
- Education: February (+53.7%); March (+0.0);
- Miscellaneous goods & services: February (-2.4%); March (+2.5%)
ENDS WITH THREE GRAPHS///
Solomon Islands Annual Inflation Rates.
Solomon Islands Annual Headline and Underlying Inflation Rates.
All Groups Percentage Changes by CPI Towns
– SINSO PRESS