The National Consumer Price Index (CPI) fell by 0.1 percent to 126.4 during the month of October 2024.
The Solomon Islands National Statistics Office, SINSO released the latest CPI report on Monday 2nd December 2024.
Quoting from the report, Acting Government Statistician Samson Kanamoli said through the year, compared to the same month in 2023, the National CPI rose by 2.8 percent.
He said the most significant changes by major expenditure groups from the previous month include:
The Solomon Islands inflation rate calculated on a 3-months moving average basis was +3.8 in October 2024.
The corresponding inflation rates for imported items was +2.4% while other (domestic) items inflation rate was +4.4% for October 2024.
- Food and Non-Alcoholic Beverages: (-0.8%),
- Alcoholic beverages, tobacco and narcotics: (+2.3%),
- Clothing & footwear (+0.1%)
- Housing, water, electricity, gas & other fuels: (-0.3%)
- Furnishings, household equipment & routine household maintenance: (-0.2%),
- Transport: (-0.7%)
The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +2.8% and +3.2% in October 2024.
The headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: (+4.0%); Auki: (+6.4%); Gizo: (-0.9%), and Noro: (+1.2%).
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: (-0.3%)
- Alcoholic beverages, tobacco and narcotics: (+2.4%)
- Housing, water, electricity, gas and other fuels: (-0.3%)
- Furnishings, household equipment & routine household maintenance: (-0.2%)
- Transport: (-0.8%)
Auki: (+0.2%),
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: (-1.2%)
- Alcoholic beverages, tobacco and narcotics: (+1.5%)
- Housing, water, electricity, gas and other fuels: (+0.1%)
- Transport: (+8.0%)
- Restaurants and hotels: (-0.4)
Gizo: (-3.5%)
The main drivers to these movements were:
- Food and Non-Alcoholic Beverages: (-7.5%)
- Alcoholic beverages, tobacco and narcotics: (+2.9%)
- Clothing & footwear: (+0.2%)
- Housing, water, electricity, gas and other fuels: (+0.5%)
- Furnishings, household equipment & routine household maintenance: (-0.7%)
- Transport: (-1.6%)
- Miscellaneous goods & services: (-1.3%)
Noro: (+0.1%)
The main contributors to the movements were:
- Food and Non-Alcoholic Beverages: (+0.2%)
- Alcoholic beverages, tobacco and narcotics: (-0.4%)
- Housing, water, electricity, gas and other fuels: (+0.6%)
- Transport: (+0.6%)
ENDS.///