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Consumer Price Index

Consumer Price Index — December Quarter 2024

Released Reference period: December Quarter 2024 Economy
+2.7% Increase Quarterly change in headline CPI

Highlights

HEADLINE CPI

The headline CPI showed an increase of 2.7 percent from September quarter 2024 to December quarter 2024.

The headline CPI also showed an increase of 0.7 percent from December quarter 2023 to December quarter 2024.

The quarterly percentage changes in the CPI towns are:

  • Port Moresby +2.9%
  • Lae +0.6%
  • Goroka-Hagen-Madang +3.3%
  • Alotau-Kimbe-Kokopo/Rabaul +2.9%

Major contributors to the change in September Quarter 2024

The major contributors to the increase in December Quarter 2024 are Alcoholic Beverages, BetelNut & Tobacco Group, Transport Group and Food & Non-Alcoholic Beverages Group.

1.Alcoholic Beverages, Tobacco, and Betel-Nut Group

The Alcoholic Beverages, Betel Nut & Tobacco Group increased by 14.0 percent in this quarter mainly due to the increases in Betel Nut & Mustard (+23.8%) and Tobacco (+9.7%).

2. Transport Group

The Transport Group increased by 1.7 percent in this quarter mainly due to rise in the Fares Sub-group particularly Airfares (+9.2%).

3.Food & Non-Alcoholic Beverages Group

The Food & Non-Alcoholic Beverages Group increases by 0.8 percent in this quarter mainly due to a rise in Cereals (+2.2%) particularly in Rice (+3.3%).

The increase in the December Quarter 2024 Headline CPI is slightly offset by the decreasesin Fruits & Vegetables (-2.2%) in Food & Non-Alcoholic Beverages group, Fuels & Lubricants(-5.0%) in the Transport Group, Housing Group (-0.2) and Restaurents and Hotels Group (-0.1).

1.Housing Group

The Housing Group decreases by 0.2 percent in this quarter mainly due to a drop in Cooking (-2.1%)

2.Restaurents and Hotels Group

The Restaurents and Hotels Group decreases by 0.1 percent in this quarter mainly due to a drop in Takeaway Foods (-0.1%).

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