Solomon Islands - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Solomon Islands was 137.01 as of 2020. As the graph below shows, over the past 49 years this indicator reached a maximum value of 137.01 in 2020 and a minimum value of 2.46 in 1971.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1971 2.46
1972 2.63
1973 2.71
1974 3.23
1975 3.55
1976 3.70
1977 4.02
1978 4.27
1979 4.62
1980 5.22
1981 6.08
1982 6.87
1983 7.29
1984 8.10
1985 8.87
1986 10.08
1987 11.19
1988 13.06
1989 15.01
1990 16.32
1991 18.78
1992 20.79
1993 22.70
1994 25.71
1995 28.19
1996 31.50
1997 34.05
1998 38.27
1999 41.34
2000 44.60
2001 47.69
2002 52.91
2003 57.28
2004 61.28
2005 65.78
2006 73.16
2007 78.76
2008 92.41
2009 98.96
2010 100.00
2011 107.34
2012 113.69
2013 119.82
2014 126.01
2015 125.28
2016 125.93
2017 126.54
2018 130.92
2019 133.06
2020 137.01

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices