inflation rate

However, the inflation rate dropped to 11 per cent in December 2022.

This was highlighted in a statement on “The Central Bank Of Samoa Continues Its Accommodative Monetary Policy Stance For The Rest Of FY2022/2023.”

According to the statement, imported (prices) inflation has started to ease so far given the aggressive monetary tightening by advanced economies around the world, however domestic inflation is rising steadily and yet to peak.

Consumer prices jumped 4.2% in the 12 months through to April, up from 2.6% in March and marking the biggest increase since September 2008.

The report from the US Labor Department comes amid fears that rising consumer prices could push up interest rates.

Some analysts said that the figures could be rising because of temporary factors like supply bottlenecks.

Inflation, which measures the rate at which the prices for goods and services increase, was pushed up by higher prices for cars and food in April.