Honiara Sees 5% Inflation Surge, Alcohol and Tobacco Costs Soar

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Honiara experienced a 5.0% inflation rate in December 2024, driven primarily by a significant 6.4% increase in the cost of alcoholic beverages, tobacco, and narcotics, according to the latest National Consumer Price Index (CPI) report.

The report, released by the Solomon Islands National Statistic Office, highlights a difference between rising prices in certain sectors and declining costs within Honiara.

While alcohol and tobacco saw a considerable climb, the food and non-alcoholic beverages category decreased by 0.7%.

Additionally, residents saw a 1.8% drop in housing, water, electricity, gas, and other fuel costs. Slight declines were also observed in the transport and household equipment categories.

Acting Government Statistician Samson Kanamoli said that the National CPI rose by 5.6 percent throughout the year compared to the same month in 2023.

The 5.0% inflation rate in Honiara differs with varied trends across other provincial towns. This data underscores the specific economic pressures faced by Honiara residents, with the substantial increase in alcohol and tobacco prices being a dominant factor.

Source:https://statistics.gov.sb/national-consumer-price-index-rose-by-0-6-percent-in-december-2024/  


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