Tobacco prices ‘insufficient’ to offset food and energy, says Tonga central bank
Headline inflation in Tonga rose to -1.2% in December
Headline inflation in Tonga rose to -1.2% in December, but the National Reserve Bank of Tonga (NRBT) warned it would likely "remain low in the near term" in its November inflation report.
The report, released today (January 22), notes that import prices declined by 4.7% in the year to November, largely as a result of the decrease in the cost of meat, fruit and vegetables.
With the price of oil continuing to decline, the increase in the price of tobacco, clothing and footwear was "insufficient"
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