Development of inflation rates in Papua New Guinea
The inflation rate for consumer prices in Papua New Guinea moved over the past 40 years between 0.9% and 17.3%. For 2019, an inflation rate of 3.6% was calculated.
During the observation period from 1979 to 2019, the average inflation rate was 7.1%
per year. Overall, the price increase was 1,421.85 %. An item that cost 100 Kina in 1979 was so charged 1,521.85 Kina in the beginning of 2020.
In only a very few countries, the price increase is that high. The rate of 17.3% in 1995 means, that compared to the previous year all prices have been increased by an average of 17.3%. In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.Back to overview: Papua New Guinea