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 SBD 100 this year will cost approximately SBD 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%