Consumer price index sees increase

Business

THE consumer price index average has increased by 5.8 per cent from the June 2016 quarter to the June 2017 quarter, according to the National Statistical Office.
“The headline CPI shows an increase of 1.2 per cent in the June quarter of 2017 compared with an increase of 1.1 per cent in the March quarter 2017,” according to the NSO publication.
“The headline CPI shows an annual change of 5.8 per cent increase from June quarter 2016 to June quarter 2017.”
The NSO noted that the largest increases were on alcoholic beverages, tobacco, betel nut, restaurants and hotel groups – collectively from the eight towns in which the price change data was collected.
“The alcoholic beverages tobacco and betel nut group increased by 3.3 per cent in the June quarter. This was mainly due to increases in the betel nut and mustard prices.
“The alcoholic beverages, tobacco and betel nut group recorded increases in all CPI towns.
“The largest movements were recorded in Goroka, Mt Hagen, Madang and Lae.”
The transport group increased by 2.5 per cent in the June quarter.
Prices increased mainly in airfares.
Prices also increased in diesel and petrol in the fuels and lubricants subgroup.
Lae had the biggest CPI increase from last year with a percentage change of 7.4 per cent.
Port Moresby had 5.9 per cent.

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