CPI was stable in January 2022

The National Consumer Price Index (CPI) was stable at 107.8 in January 2022 compared to the previous month.

The latest CPI bulletin was released by the National Statistics Office on Monday 4^th April 2022.

Government Statistician Douglas Kimi said through the year, compared to the same month in 2021, the National CPI rose 1.0 percent.

Mr Kimi said the most significant changes by major expenditure groups from the previous month include:

• Food and Non-Alcoholic Beverages: (+0.2%),
• Alcoholic beverages, tobacco and narcotics: (-0.8%),
• Clothing & Footwear: (-7.3%)
• Housing, water, electricity, gas and other fuels: (+1.0%),
• Furnishings, household equipment & routine household maintenance: (+0.1%)

“The Solomon Islands inflation rate for the month of January 2022 calculated on a 3-months moving average basis was +2.1%,” Mr Kimi said.

“The corresponding inflation rates for imported items was +5.2%, while other (domestic) items inflation rate was +0.9%.

“The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +1.5% and +1.6% for January 2022.”

Meanwhile, the headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: (+2.6%); Auki: (+1.0%); Gizo: (+8.9%); and Noro: (-0.8%).

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: (+0.5%)
• Alcoholic beverages, tobacco and narcotics: (+3.9%)
• Housing, water, electricity, gas and other fuels: (+2.1%)
• Transport: (-1.6%)

Auki: (+0.7%)

The main contributors to the movements were:

• Food and Non-Alcoholic Beverages: (+1.2%)
• Alcoholic beverages, tobacco and narcotics: (-0.7%)
• Clothing & Footwear: (-4.7%)
• Housing, water, electricity, gas and other fuels: (+2.0%)
• Furnishings, household equipment and routine household maintenance: (+0.6%)

Gizo: (-2.0%)

The main drivers to these movements were:

• Food and Non-Alcoholic Beverages: (-6.7%)
• Alcoholic beverages, tobacco and narcotics: (+7.7%)
• Clothing & Footwear: (-0.6%)
• Housing, water, electricity, gas and other fuels: (+1.3%)
• Miscellaneous goods & services: (+1.5%)

Noro: (0.0%)

The main contributors to the movements were:

• Food and Non-Alcoholic Beverages: (+0.2%)
• Alcoholic beverages, tobacco and narcotics: (-0.6%)
• Housing, water, electricity, gas and other fuels: (+2.1%)
• Furnishings, household equipment and routine household maintenance: (+0.5%)
• Transport: (+0.2%)
• Restaurants & Hotels: (-2.2%)

-SINSO Press