Home Economy Inflation drops 0.4% in April

Inflation drops 0.4% in April

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The country’s inflation also known as the change in the National Consumer Price Index (NCPI) has dropped 0.4 per cent to 112.2 in April 2020.

The Solomon Islands National Statistics Office (SINSO) revealed in its latest NCPI statistical report.

Releasing the NCPI report on Monday 8 June, Government Statistician and Census Commissioner, Douglas Kimi said through the year compared to the same month in 2019, the National CPI increased 7.7 percent.

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The major changes in other expenditure categories from the previous month include:

  • Food and Non-Alcoholic Beverages +0.6 per cent.
  • Alcoholic beverages, tobacco and narcotics +0.1 per cent.
  • Clothing & Footwear +0.1 per cent.
  • Housing, water, electricity, gas and other fuels -0.3 per cent.
  • Furnishings, household equipment & routine maintenance +0.3 per cent.
  • Transport: March -3.1 per cent and
  • Miscellaneous +0.3 per cent.

Mr. Kimi said the Solomon Islands inflation rate for the month of April 2020 calculated on a 3 months moving average basis remained stable at 7.8 per cent, the corresponding inflation rate for imported items 1.6 per cent, while other (domestic) items inflation rate was 10.6 per cent.

“The Solomon Islands underlying rate of inflation based on a 3 months moving average for the month of April 2020 was observed between 1.1 per cent and 1.6 per cent. “The headline inflation rates for the respective provincial towns calculated on a 3 months moving average basis were: Honiara: (+8.6%) down 0.3 percentage points; Auki: (+6.3%), up 0.8 percentage points; Gizo: (+0.7%), rose 0.4 percentage; Noro: (+3.6%), a rise of 1.0 percentage points.”

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