Average inflation measured by CPI reached 6.00 % in 2015 in Papua New Guinea, according to the National Statistical Office. This is 14.8 % more than in the previous year.
Historically, average inflation measured by CPI in Papua New Guinea reached an all time high of 23.2 % in 1974 and an all time low of 0.911 % in 2007. When compared to Papua New Guinea's main peers, average inflation measured by CPI in Australia amounted to 1.49 %, 6.36 % in Indonesia, 0.293 % in New Zealand and 0.674 % in Philippines in 2015.
Papua New Guinea has been ranked 39th within the group of 176 countries we follow in terms of average inflation measured by CPI, 113 places above the position seen 10 years ago.
Inflation as measured by the consumer price index (CPI) reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.