This is due to the marginal increase in imported inflation from PNG’s major trading partners and increased demand from APEC-related activities, as reported in the Bank of PNG’s Monetary Policy Statement for March.
The slight increase comes despite a downward trend in inflation from 6.6 percent in 2016 to 4.7 percent in 2017, reflecting low economic growth, relative stability in the Kina exchange rate and lower prices of seasonal food items.
