The National Consumer Price Index (CPI) has dropped 0.7 percent to 105.1 in August 2020 and rebounded by 0.3 percent to 105.4 in September 2020. The Solomon Islands National Statistics Office (SINSO) revealed in its latest NCPI statistical report.
Releasing the NCPI report on Friday 27th November, Government Statistician and Census Commissioner, Douglas Kimi said through the year compared to the same months in 2019, the National CPI remained stable in August but dropped 0.1 percent in September
The most significant changes by major expenditure groups from the previous corresponding months of August and September include:
• Food and Non-Alcoholic Beverages (August, -1.4%; September, -0.3%)
• Alcoholic beverages, tobacco, and narcotics (August, -1.4%; September, +3.2%)
• Clothing & Footwear (August,-1.0%; September, +0.1%)
• Housing, water, electricity, gas, and other fuels (August, +1.3%; September, -0.4%)
• Furnishings, household equipment & routine maintenance (August, 0.0%; September, +0.1%)
• Transport (August (-0.9%; September, -0.3%)
• Recreation and culture (August, 0.0%; September, +0.1%)
Mr. Kimi said the Solomon Islands inflation rates for the months of August and September 2020 calculated on 3 months moving average basis were +1.2 percent and +0.2 percent respectively.
“The corresponding inflation rates for imported items were -3.6 percent and -3.5 percent, while other (domestic) items inflation rates were +3.3 percent and +2.0 percent respectively.
“The Solomon Islands underlying rates of inflation based on 3 months moving average were observed between +0.8 percent and +1.4 percent in August 2020, and +0.5 percent and +1.3 percent in September 2020.”
The Government Statistician said the headline inflation rates for the respective provincial towns calculated on 3 months moving average basis were: Honiara: August (+0.7%) and September (-0.3%); Auki: (+4.4%) and (+2.9%); Gizo: (+1.8%) and (+1.2%); and Noro: (+1.3%) and (+1.2%) for August and September respectively.