Current inflation Solomon Islands 5.0%
March 2024
Current Inflation
Inflation is very high at 5.4%, far above the ECB target.
Historical Context
Current inflation is 1.4% higher than the 5-year average of 4.0%. This approaches the highest level since records began (5.9% in 2023).
- 5-year average
- 4%
- 10-year average
- 2.5%
- All-time high (2023)
- 5.9%
- All-time low (2015)
- -0.5%
Trend
Inflation has remained relatively stable. Compared to 2023, the difference is minimal (-0.5 percentage point).
ECB Target
Inflation is 3.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €105.40 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- This year (avg.)
- 5.4%
- Last year
- 5.9%
- 5-year average
- 5.4%
- All-time high (2023)
- 5.9%