National inflation rose 0.7 per cent in July - Solomon Star News

National inflation rose 0.7 per cent in July
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23 October 2019
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Chart showing All Groups Percentage Changes by Consumer Price Index Towns.


The country’s national inflation has climbed to 0.7 per cent in July 2019 after a 0.1 per cent movement noted in the month of June.

Government Statistician, Douglas Kimi revealed while releasing the national (all groups) consumer price index (NCPI) this week.

Mr. Kimi said the NCPI increased to 0.7 per cent in July 2019 to 105.0 succeeding a 0.1 upswing to 104.3 in June following no movement of 0.0 per cent in the month of May 2019. 

“Through the year, compared to the same month in 2018, the National CPI increased 1.4 and 1.9 percent in June and July respectively,” Mr. Kimi added.

The major changes in other expenditure categories include: 

• Food and non-alcoholic beverages recorded zero change in June and picked up +2.1 per cent in July. 

• Alcoholic beverages, tobacco and narcotics increased in June by+0.7 per cent and July +0.3 per cent.

• Transport increased in June +1.1 per cent then dropped in July by -1.6 per cent.

• Housing, water, electricity, gas and other fuels declined in June by -0.9 per cent then rose in July by +0.7 per cent.

• Furnishings, household equipment and routine maintenance increased in June +0.1 per cent and subdued to zero change in July.

• Recreation and culture rose in June by +0.2 per cent and July +0.3 per cent.

• Miscellaneous goods and services increased in June by +0.1 per cent, with same increase in July.

Mr. Kimi said price movements by import and domestic category showed price pressures in domestic items by +1.2 per cent driving overall price change as movements in imported items subsided by -0.8 per cent. 

“By CPI towns, overall price movements in Honiara continue to impact on the national average while distinct price movements in respective towns showed inflation rates for all towns except Gizo above the national average.

“The Solomon Islands inflation rate for the month of June 2019 calculated on a 3 months moving average basis was +1.0 per cent, up 0.1 percentage points, and +1.5 per cent in July, up 0.5 percentage points. The corresponding inflation rates for imported and other (domestic) items were -1.6 per cent and +2.3 per cent in June, and -1.7 per cent and 3.1 per cent in July respectively.

“The Solomon Islands underlying rates of inflation based on a 3 months moving average for the month of June 2019 were observed between -1.1 per cent and +1.2 per cent, and in between -1.0 per cent and +1.4 per cent in July 2019.

“The headline inflation rates for the respective provincial towns calculated on a 3 months moving average basis were: Honiara: June +1.1 per cent and July 1.7 per cent; Auki: June +2.4 per cent and July +3.0 per cent; Gizo: June +0.4 per cent and July +0.7 per cent and Noro: June +4.4 per cent and in July +5.2 per cent.”

- SINSO Media

 

 

 

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