The National Consumer Price Index (CPI) increased by 0.6 percent to 130.4 during the month of December 2024.
Releasing the report on Monday 17th February 2025, the Acting Government Statistician Samson Kanamoli said through the year, compared to the same month in 2023, the National CPI rose by 5.6 percent.
Quoting from the report, he said the most significant changes by major expenditure groups from the previous month include:
- Food and Non-Alcoholic Beverages: (-0.4%)
- Alcoholic beverages, tobacco and narcotics: (+6.1%)
- Housing, water, electricity, gas & other fuels: (-1.7%)
- Transport: (-0.1%)
The Solomon Islands inflation rate calculated on a 3-months moving average basis was + 4.6 in December 2024. The corresponding inflation rates for imported items was +1.2% while other (domestic) items inflation rate was +6.1% for December 2024.
At the end of the calendar year, the 2024 National CPI Annual Index (Jan – Dec, 2024) was 126.1 recording a 4.2 percent annual inflation compared to 5.1 percent recorded in 2023.
The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +1.8% and +2.7% in December 2024.
The headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: (+5.0%); Auki: (+6.0%); Gizo: (-0.4%), and Noro: (+0.5%).
The main percentage changes in index by CPI town and expenditure group from the previous month include:
Honiara: (+0.7%)
The most significant changes in movements include:
- Food and Non-Alcoholic Beverages: (-0.7%)
- Alcoholic beverages, tobacco and narcotics: (+6.4%)
- Housing, water, electricity, gas and other fuels: (-1.8%),
- Furnishings, household equipment & routine household maintenance: (-0.1%)
- Transport: (-0.1%).
Auki: (-0.7%),
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: (+0.6%).
- Alcoholic beverages, tobacco and narcotics: (+0.7%).
- Housing, water, electricity, gas and other fuels: (-4.1%)
- Furnishings, household equipment & routine household maintenance: (-0.2%) Health: (-0.3%) Transport: (-1.3%).
- Miscellaneous goods & services: (-0.1)
Gizo: (+0.7%)
The main drivers to these movements were:
- Food and Non-Alcoholic Beverages: (+2.3%).
- Alcoholic beverages, tobacco and narcotics: (-1.5%).
- Housing, water, electricity, gas and other fuels: (-2.1%)
- Furnishings, household equipment & routine household maintenance: (+0.2%)
Noro: (-0.2%)
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: (+0.1%)
- Alcoholic beverages, tobacco and narcotics: (+1.1%)
- Housing, water, electricity, gas and other fuels: (-1.6%)
- Health: (-0.8%)
- Transport: (-0.1%)
- Recreation & culture: (-0.1%)
ENDS.///