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Country’s CPI declines from 0.1 percent in April to 0.3 percent in May

Country’s CPI declines from 0.1 percent in April to 0.3 percent in May

 

The National Consumer Price Index (CPI) has dropped 0.1 percent to 118.8 in April 2023 and further declined by 0.3% in May 2023 to 118.5.

The National Statistics Office released the bulletin for the two months on Friday 14th July 2023.

Government Statistician Douglas Kimi said through the year, compared to the same month in 2022, the National CPI rose by 5.4 percent in April and 3.7% in May.

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

  • Food and Non-Alcoholic Beverages: April (-0.5%); May (-0.3%)
  • Alcoholic beverages, tobacco and narcotics: April (+0.7%); May (-0.1%)
  • Clothing & footwear: April (+0.1%); May (-0.1%)
  • Housing, water, electricity, gas and other fuels: April (+0.0); May (-0.7%)
  • Furnishings, household equipment & routine household maintenance: April (-0.1%); May (-0.6%)
  • Health: April (+0.0); May (-1.1%)
  • Transport: April (-0.1%); May (+0.2%)
  • Recreation & culture: April (+0.2%); May (+0.0)
  • Education: April (+0.0); May (+0.3%)
  • Miscellaneous goods & services: April (+0.8%); May (+0.0)

Mr Kimi said the Solomon Islands inflation rate calculated on a 3-months moving average basis was +6.9% in April 2023 and +5.5% in May 2023.

“The corresponding inflation rates for imported items was +6.2% in April and +4.1% in May 2023, while other (domestic) items inflation rate was +7.2% and +6.1% respectively for April and May 2023.

“The Solomon Islands underlying rates of inflation based on a 3-months moving average was observed between +5.9% and +7.7% in April 2023 and +5.3% and +7.1% in May 2023.”

Honiara: April (-0.1%); May (-0.3%)

The most significant changes in movements include:

  • Food and Non-Alcoholic Beverages: April (-0.5%); May (-0.4%)
  • Alcoholic beverages, tobacco and narcotics: April (+0.7%); May (+0.0)
  • Housing, water, electricity, gas and other fuels: April (+0.1%); May (-0.6%)
  • Furnishings, household equipment & routine household maintenance: April (-0.1%); May (-0.7%)
  • Health:  April (+0.0); May (-1.1%)
  • Recreation & culture: April (+0.2%); May (+0.0)
  • Miscellaneous goods & services: April (+1.0%); May (+0.0)

Auki: April (+0.9%); May (-0.7%)

The main contributors to the movements were:

  • Food and Non-Alcoholic Beverages: April (+1.8%); May (+0.0)
  • Alcoholic beverages, tobacco and narcotics: April (+0.5%); May (+1.2%)
  • Housing, water, electricity, gas and other fuels: April (+0.3%); May (-4.0 %)

Gizo: April (-0.5%); May (+0.4%)

The main drivers to these movements were:

  • Food and Non-Alcoholic Beverages: April (-1.3%); May (+2.1%)
  • Alcoholic beverages, tobacco and narcotics: April (+1.1%); May (-2.0%)
  • Clothing & footwear: April (+0.3%); May (-0.6%)
  • Housing, water, electricity, gas and other fuels: April (-0.2%); May     (-4.5%)
  • Furnishings, household equipment & routine household maintenance: April (-0.2%); May (-0.2%)
  • Transport: April (+0.0); May (+0.8%)
  • Education: April (+0.0); May (+5.5%)
  • Miscellaneous goods & services: April (+0.0); May (+0.7%)

Noro: April (-0.1%); May (+0.2%)

The main contributors to the movements were:

  • Food and Non-Alcoholic Beverages: April (+0.2%); May (+1.1%)
  • Alcoholic beverages, tobacco and narcotics: April (-2.2%); May (+2.5%)
  • Clothing & footwear: April (+0.6%); May (+0.0)
  • Housing, water, electricity, gas and other fuels: April (+0.2%); May (-3.3%)
  • Furnishings, household equipment & routine household maintenance: April (+0.4%); May (+0.0)
  • Transport: April (+0.0); May (+0.1%)

ENDS//// 

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-SINSO Press