The National Consumer Price Index (CPI) increased by 0.6% in December 2024, reaching 130.4. Compared to December 2023, prices rose by 5.6% over the year. Key changes include a 6.1% rise in alcohol and tobacco prices, while food and housing costs dropped by 0.4% and 1.7%, respectively.
The annual inflation rate for 2024 was 4.2%, down from 5.1% in 2023. Inflation varied across towns: Honiara saw a 0.7% increase, Auki dropped by 0.7%, Gizo rose by 0.7%, and Noro fell by 0.2%.
So while some items like alcohol and tobacco became more expensive, others like food and housing saw price drops. Inflation varied across different towns, with Honiara experiencing the highest price increases.
Overall, inflation in 2024 was lower than in 2023.
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