BREAKING NEWS

Consumer Price Index rises 0.03 percent in March

The National Consumer Price Index (CPI) marginally rose 0.03 percent to 109.4 in March 2022.

The National Statistics Office released the latest CPI bulletin on Monday 9th May 2022. Government Statistician Government Douglas Kimi said through the year, compared to the same month in 2021, the National CPI dropped by 2.7 percent.

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

  • Food and Non-Alcoholic Beverages: (+1.7%)
  • Alcoholic beverages, tobacco and narcotics: (-7.9%)
  • Housing, water, electricity, gas & other fuels: (-0.3%)
  • Furnishings, household equipment & routine household maintenance: (+0.6%)
  • Health: (-1.0%)
  • Transport: (+4.5%)
  • Miscellaneous good & services: (+0.1)

Mr Kimi said the Solomon Islands inflation rate for the month of March 2022 calculated on a 3-months moving average basis was -0.6%.

“The corresponding inflation rates for imported items was +6.0%, while other (domestic) items inflation rate was -3.2%.

“The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +2.5% and +2.8% for March 2022.”

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

Honiara: (-0.8%); Auki: (+1.7%); Gizo: (+7.1%); and Noro: (-2.6%).

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

Honiara: (+0.1%)

The most significant changes in movements include:

  • Food and Non-Alcoholic Beverages: (+1.4%)
  • Alcoholic beverages, tobacco and narcotics: (-7.1%)
  • Housing, water, electricity, gas and other fuels: (-1.0%)
  • Furnishings, household equipment & routine household maintenance: (+0.6%)
  • Health: (-1.1%)
  • Transport: (+5.1%)
  • Miscellaneous goods & services: (-0.1%)

Auki: (+1.5%)

The main contributors to the movements were:

  • Food and Non-Alcoholic Beverages: (+3.5%)
  • Alcoholic beverages, tobacco and narcotics: (-0.1%)
  • Housing, water, electricity, gas and other fuels: (-0.2%)
  • Furnishings, household equipment and routine household maintenance: (+1.9%)
  • Restaurants & hotels: (+6.1%)

Gizo: (+1.9%)

The main drivers to this movements were:

  • Food and Non-Alcoholic Beverages: (+5.4%)
  • Alcoholic beverages, tobacco and narcotics: (-1.0%)
  • Clothing & Footwear: (-0.5%)
  • Housing, water, electricity, gas and other fuels: (+0.5%)
  • Furnishings, household equipment and routine household maintenance: (+0.1%)
  • Transport: (-2.5%)
  • Miscellaneous goods & services: (+1.1%)

Noro: (0.7%)

The main contributors to the movements were:

  • Food and Non-Alcoholic Beverages: (+4.7%)
  • Alcoholic beverages, tobacco and narcotics: (-0.1%)
  • Housing, water, electricity, gas and other fuels: (-0.3%)
  • Furnishings, household equipment and routine household maintenance: (-0.2%)
  • Restaurants & Hotels: (+7.7%)
  • Miscellaneous goods & services: (-0.4%)

-SINSO Press

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