Papua New Guinea's inflation, consumer prices (annual %) is currently 4.48%
, according to the most recent World Bank data for the country (2021)
The consumer price index gauges inflation by indicating the yearly percentage shift in the expenses for an average consumer to procure a collection of goods and services, which could either remain constant or alter at specified periods like annually; typically employing the Laspeyres formula.
- Papua New Guinea's inflation, consumer prices (annual %) for 2021 was 4.484%, a -7.97% increase from 2020, with a -1 difference.
- In 2020 it was 4.872%, a 24.00% increase from 2019.
- In 2019 it was 3.929%, a -10.19% increase from 2018.
- In 2018 it was 4.374%, a -19.32% increase from 2017.
- In 2017 it was 5.422%, a -18.76% increase from 2016.
Average, Lowest, and Highest Recorded Values
The average inflation, consumer prices (annual %), value for Papua New Guinea is currently 7.1978% (average of years with recorded data) with a lowest recorded value of 0.9114% in 2007 and a highest value of 23.1673% in 1974.