CPI rises 0.4 percent in December 2021

The National Consumer Price Index (CPI) rose 0.4 percent to 107.8 in December 2021.

Releasing the bulletin on Wednesday 9^th March 2022, Government Statistician Douglas Kimi said through the year, compared to the same month in 2020, the National CPI rose 3.5 percent.

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

 Food and Non-Alcoholic Beverages: (+0.7%),

 Alcoholic beverages, tobacco and narcotics: (-0.9%),

 Housing, water, electricity, gas and other fuels: (+1.5%),

 Furnishings, household equipment and routine household maintenance: (+0.2%),

 Transport: (+0.3%),

Mr Kimi said the Solomon Islands inflation rate for the month of December 2021 calculated on a 3-months moving average basis was +2.5%.

“The corresponding inflation rates for imported items was 4.0%, while other (domestic) items inflation rate was +1.9%.

“At the end of the calendar year, the annual inflation rate ending December 2021 dropped -0.1 percent compared to 3.0 percent in 2020.”

Meanwhile, the headline inflation rates for the respective provincial towns calculated on a 3-months moving average basis were: Honiara: (+2.8%); Auki: (+1.5%); Gizo: (+8.4%); and Noro: (-1.5%).

The report shows by the end of the calendar year, their corresponding annual inflation rates were: Honiara: (+0.1%); Auki: (+0.6%); Gizo: (+8.2%); and Noro: (-4.7%).

The main percentage changes in index by CPI provincial town and expenditure group from the previous month of November show the following:

The CPI for Honiara rose 0.5 percent driven by significant price movements in the following groups:

 Food and Non-Alcoholic Beverages: (+0.8%)

 Alcoholic beverages, tobacco and narcotics: (-1.0%)

 Housing, water, electricity, gas and other fuels: (+1.8%)

 Furnishings, household equipment and routine household maintenance: (+0.2%)

 Transport: (+0.3%)

The CPI for Auki rose 0.4 percent with the main contributor of price movement being Housing, water, electricity, gas and other fuels (+2.2%).

The CPI for Gizo dropped 0.3 percent owing to movements in the following categories:

 Food and Non-Alcoholic Beverages: (-1.3%)

 Housing, water, electricity, gas and other fuels: (+1.8%)

The CPI for Noro increased 0.8 percent driven by these main contributors:

 Food and Non-alcoholic Beverages: (+1.1%)

 Alcoholic beverages, tobacco & narcotics: (-0.3%)

 Housing, water, electricity, gas and other fuels: (+2.7%)

 Transport: (+0.3%)                                                                          

 

• SINSO Press