SOARING FOOD PRICES DRIVE UP INFLATION IN HONIARA
“Sharply rising food prices in Honiara have pushed up Consumer Price Index (CPI) inflation higher to 2.1 per cent in February 2018.
“This is the highest recorded since June 2016.
“CPI is a monthly indicator of the variation in prices for retail goods and other items.
“The basket of goods chosen represents the spending behaviour of the population of Honiara and the resulting CPI is used to calculate inflation.
“The 2.1 per cent increase from 191.1 the previous month to 195.1 was predominantly driven by price increases in the Food, and Transport and Communication sub-sections of the index,” Government Statistician (GS) Douglas Kimi said while releasing the official statistics produced by the National Statistics Office (NSO) on Wednesday 4 April for the month of February 2018.
“The Food sub-index increased during the month by 5.1% to 180.7.”
Source : Solomon Islands Government Press Release – 9 April 2018.