MONTHLY headline inflation for Honiara rose by 0.6 per cent points to 0.8 per cent in September, compared to the 0.2 per cent points noted in August, 2018.
The Solomon Islands National Statistics Office (SINSO) revealed it in its Honiara Consumer Price Index (CPI) report made available this week.
Government Statistician, Douglas Kimi, while releasing the statistical report said the increase compared to the same month in the preceding year, the Honiara CPI increased to 4.5 per cent.
Although there was a drop in Food and Non Alcoholic Beverages by 1.0% during the month of September, this was outweighed by the rise in other consumption categories such as Alcoholic Beverages, Tobacco and Narcotics that went up by 3.5 per cent and Housing, water, electricity, gas and other fuels group that went up by 3.4 per cent.
In the Food and Non Alcoholic Beverages group, the main contributors to marginal decline during the month were vegetables by -8.5 per cent particularly potato and tuber per -3.8 per cent, and fresh fruits -2.7 per cent at the Honiara Central market.
Mr Kimi said the fall is partially offset by rises in bread and cereals by +0.5 per cent especially rice +1.1 per cent, fish and seafood by +0.8 per cent, and oils and fats by +0.2 per cent.
The major changes in other sub-indexes include:
- Alcoholic Beverages, Tobacco and Narcotics by +3.5 per cent.
The main contributor to the rise in this group is narcotics per +17.2 per cent, particularly betel nut by +20.2 per cent outweighing marginal drop in tobacco -0.5 per cent.
- Housing, water, electricity, gas and other fuels +3.4 per cent.
The main contributor to the rise in this group is electricity charges, particularly electricity bills +11.6 per cent and cash power bills by +20.7 per cent.
- Furnishings, household equipment and routine household maintenance +0.2 per cent.
The main contributor to the marginal rise in this group is tools and equipment for house and garden by +0.1 per cent particularly motorized tools and goods and services for routine household maintenance +0.5 per cent.
- Transport +0.1 per cent.
The main contributor to the slight rise in transport group is operations of personal transport equipment +0.5 per cent, predominantly fuel and lubricants +0.5 per cent.Mr. Kimi said that apart from the above, price movements elsewhere in the consumption basket were negligible.
“The overall annual headline inflation rate for the month of September 2018 calculated on a 3 months moving average basis was 3.3 per cent, up by 0.7 percentage points from 2.6 per cent the previous month. The corresponding inflation rates for imported and other items were 0.3 per cent and 4.7 per cent, respectively.
“The main underlying rates of inflation based on a 3 months moving average for the month of September 2018 were observed between -0.3 per cent and 1.1 per cent while the headline inflation rate was at 3.3 per cent,” Mr. Kimi said.
Source: SINSO Media