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Country Report Tonga Product Image

Country Report Tonga

  • Published: September 2014
  • Region: Tonga
  • 17 Pages
  • The Economist Intelligence Unit

Tonga's Department of Statistics reported on September 18th that consumer price inflation rose to 2.5% year on year in August, up from 1.9% in July.

The acceleration in the pace of consumer price inflation in Tonga reflects a 0.7% month-on-month increase in prices on the back of a 1.1% month-on-month rise in the import index, an index of prices for imported goods. By contrast, the local index, an index of locally driven prices, was up by just 0.2% compared with July.

Food prices provided the main support to inflation in August, rising by 1.8% month on month: fruit and vegetables, meat, fish and poultry all rose in price, and prices for imported foodstuffs, such as tinned and packaged food and frozen meat, also increased. A fall in petrol and diesel prices resulted in a 0.5% decrease in prices in the transport subindex.

Country Report Tonga

Imported food pushes up consumer price index
Event
Analysis
Impact on the forecast

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