National CPI increase by 1.5 percent

The National Consumer Price Index (CPI) rose by 1.5 percent to 127.0 during the month of February 2024.

This was according to the latest CPI bulletin released by the National Statistics Office on Friday 19^th April 2024.

Deputy Government Statistician Samson Kanamoli said through the year, compared to the same month in 2023, the National CPI rose by 5.8 percent

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

• Food and Non-Alcoholic Beverages: (+3.3%)
• Alcoholic beverages, tobacco and narcotics: (+6.0%)
• Housing, water, electricity, gas and other fuels: (-2.5%)
• Furnishings, household equipment & routine household maintenance: (+0.1%)
• Health: (-0.1%)
• Transport: (+0.1%)
• Education: (+0.2%)
• Miscellaneous goods & services: (-0.6%)

He said the Solomon Islands inflation rate calculated on a 3-months moving average basis was +4.8.

“The corresponding inflation rates for imported items was +3.9% 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 +2.7% and +3.4%.”

The headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: (+4.9%); Auki: (+5.2%), Gizo: (+2.2%) and Noro: (+3.3%).

The main percentage changes in index by CPI town and expenditure group from the previous month include:

Honiara: (+1.8%)

The most significant changes in movements include:

• Food and Non-Alcoholic Beverages: (+3.7%)
• Alcoholic beverages, tobacco and narcotics: (+6.7%)
• Housing, water, electricity, gas and other fuels: (-2.5%)
• Transport: (+0.2%)
• Miscellaneous goods & services: (-0.8%)

Auki: (-1.3%)

The main contributors to the movements were:

• Food and Non-Alcoholic Beverages: (+0.3%)
• Alcoholic beverages, tobacco and narcotics: (-5.4%)
• Clothing & footwear: (+0.7%)
• Housing, water, electricity, gas and other fuels: (-5.0%),
• Furnishings, household equipment & routine household maintenance: (+0.8%)
• Health: (-0.7%)
• Transport: (-0.2%)
• Recreation: (+0.1%)
• Restaurants & culture: (-0.2%).
• Miscellaneous goods & services: (-0.1%)

Gizo: (-0.9%)

The main drivers to this movements were:

• Food and Non-Alcoholic Beverages: (+1.3%)
• Alcoholic beverages, tobacco and narcotics: (-8.2%)
• Clothing & footwear: (-0.2%)
• Housing, water, electricity, gas and other fuels: (-5.3%)
• Furnishings, household equipment & routine household maintenance: (+0.3%)
• Miscellaneous goods & services: (-0.3%)

Noro: (-0.5%)

The main contributors to the movements were:

• Food and Non-Alcoholic Beverages: (+0.3%)
• Alcoholic beverages, tobacco and narcotics: (-1.3%)
• Clothing & footwear: (-0.5%)
• Housing, water, electricity, gas and other fuels: (-3.3%)
• Furnishings, household equipment & routine household maintenance: (-0.2%)
• Health: (-2.0%)
• Transport: Dec (+0.6%)
• Restaurants & culture: (-3.6%)
• Miscellaneous goods & services: (-0.2%)

ENDS WITH THREE GRAPHS.///

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