The National Consumer Price Index (CPI) has declined in the months of October and November, 2022.
The National Statistics Office released the bulletin on Wednesday 18th January, 2023.
The Government Statistician Douglas Kimi said in October, the National CPI dropped 0.2 percent to 117.8, and further declined in November by 0.5 percent to 117.2.
He said through the year, compared to the same months in 2021, the National CPI rose by 9.6 percent and 9.1 percent respectively for October and November.
The most significant changes by major expenditure groups from the previous month include:
- Food and Non-Alcoholic Beverages: Oct (+0.6%), Nov (-0.3%)
- Alcoholic beverages, tobacco and narcotics: Oct (+0.4%), Nov (+0.4%)
- Housing, water, electricity, gas and other fuels: Oct (-2.1%), Nov (-2.7%)
- Furnishings, household equipment and routine maintenance: Oct (-0.1%), Nov (-0.1%)
- Transport: Oct (-0.1%), Nov (-0.2%)
- Recreation & Culture: Oct (0.0%), Nov (+0.7%)
- Restaurants and hotels: Oct (+0.3%), Nov (0.0%)
Mr Kimi said the Solomon Islands inflation rates calculated on a 3-months moving average basis were +9.8% for October and +9.6 for November.
“The corresponding inflation rates for imported items were +11.7% and 10.7% for the respective months, while the inflation rates for the other (domestic) items were +9.0% and 9.1% for the respective months.
“The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +4.9% and +7.2% in October 2022, and 5.3% and 7.2%. in November 2022.”
The headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: Oct (+10.0%), Nov (+10.3%); Auki: Oct (+9.8%), Nov (+9.2%); Gizo: Oct (+6.3%), Nov (+5.8%); and Noro: Oct (+2.7%), Nov (+2.6%).
The main percentage changes in index by CPI town and expenditure group from the previous month include:
Honiara: Oct (+1.1%), Nov (-0.4%)
The most significant changes in movements include:
- Food and Non-Alcoholic Beverages: Oct (+1.0%), Nov (0.0%)
- Alcoholic beverages, tobacco and narcotics: Oct (+5.5%), Nov (+1.1%)
- Housing, water, electricity, gas and other fuels: Oct (+2.4%), Nov (-2.7%)
- Furnishings, household equipment & routine household maintenance: Oct (+0.3%), Nov (0.0%)
- Transport: Oct (-2.7%), Nov (-0.3%)
- Recreation & culture: Oct (0.0%), Nov (+0.6%)
Auki: Oct (-1.1%), Nov (-1.2%)
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: Oct (-0.5%), Nov (+0.6%)
- Alcoholic beverages, tobacco and narcotics: Oct (-1.6%), (-4.1%)
- Clothing & footwear: Oct (+0.1%), Nov (-0.3%)
- Housing, water, electricity, gas and other fuels: Oct (-4.2%), Nov (-5.8%)
- Furnishings, household equipment & routine household maintenance: Oct (0.0%), Nov (+0.1%)
- Health: Oct (0.0%), Nov (-0.8%)
- Transport: Oct (0.0%), Nov (+1.4%)
- Recreation & culture: Oct (0.0%), Nov (+0.3%)
- Restaurant and Hotels: Oct (+3.9%), Nov (0.0%)
- Miscellaneous goods & services: Oct (0.0%), Nov (+0.1%)
Gizo: Oct (-2.8%), Nov (-0.8%)
The main drivers to this movements were:
- Food and Non-Alcoholic Beverages: Oct (-3.6%), Nov (+1.0%)
- Alcoholic beverages, tobacco and narcotics: Oct (-8.7%), Nov (-4.2%)
- Housing, water, electricity, gas and other fuels: Oct (-2.4%), Nov (-4.8%)
- Furnishings, household equipment & routine household maintenance: Oct (-0.2%), Nov (+0.1%)
- Transport: Oct (+0.2%), Nov (-0.2%)
- Recreation & culture: Oct (+0.1%), Nov (0.0%),
- Miscellaneous goods & services: Oct (0.0%), Nov (+0.7%)
Noro: Oct (+0.7%), Nov (-1.5%)
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: Oct (+1.2%), Nov (+0.2%)
- Alcoholic beverages, tobacco and narcotics: Oct (+6.6%), Nov (-0.6%)
- Clothing & footwear: Oct (0.0%), Nov (-0.3%)
- Housing, water, electricity, gas and other fuels: Oct (-3.6%), Nov (-3.9%)
- Furnishings, household equipment & routine household maintenance: Oct (0.0%), Nov (-0.8%)
- Transport: Oct (-0.1%), Nov (+1.3%)
- Recreation & culture: Oct (0.0%), Nov (+3.1%)
- Miscellaneous goods & services: Oct (0.0%), Nov (-0.3%)
