Development of inflation rates on the Solomon Islands
The inflation rate for consumer prices on the Solomon Islands moved over the past 40 years between -0.6% and 17.3%. For 2019, an inflation rate of 1.6% was calculated.
During the observation period from 1979 to 2019, the average inflation rate was 9.1%
per year. Overall, the price increase was 3,014.88 %. An item that cost 100 Dollar in 1979 was so charged 3,114.88 Dollar in the beginning of 2020.
In only a few countries negative inflation rates are achieved. This means that the general price level is declining and consumer prices get cheaper. This case is called deflation.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: Solomon Islands