Statistics Office release Honiara Consumer Price Index for late 2006
The consumer price index or CPI is a measure of the level of inflation. CPI measures how much the price of consumer goods and services has changed over a given time period. The CPI reflects spending patterns for urban consumers. It is usually published monthly and can be used as an economic indicator and a means of adjusting dollar values.
The overall index for the month of November slightly rose by 0.3 percent (341.5) compared to (340.5) in October. These increases resulted mainly from a 2.1 and 1.3 percent price rise recorded in Clothing&Footwear and Miscellaneous Items respectively which also include minor increases in other subindexes. These were however, out weighed by a 4.9 percent decrease in the food sub-index.
The December Index recorded a drop of 0.3 percent (340.5) compared to previous month. The decrease was mainly due to drop in prices of Food items (-1.8 percent) and Drinks & Tobacco sub-index (-2.1 percent). The other subindexes recorded insignificant increases or remain fairly stable.
For imported goods, annual inflation for the 3 months to November increased to 8.1 percent from 7.3 percent in October whilst December recorded a rate of 8.9 percent.
Domestically produced goods increased to 6.3 percent during the month as compared to 5.6 percent in October, whilst December rate marginally increased by 6.6 percent.