What Papua New Guinea's Low Inflation Rate Means for Low-Income Earners — And What You Can Do
What Papua New Guinea's Low Inflation Rate Means for Low-Income Earners — And What You Can Do By Mioknet News | Finance Desk Papua New Guinea's inflation rate stood at 0.67% in Q4 2024 , a notable rise from -0.90% in Q3 , but still relatively low compared to previous years. For context, the annual inflation for 2024 was about 0.6% , significantly down from 2.3% in 2023 and 5.25% in 2022 . However, projections suggest a possible increase to 4.8% in 2025 , according to the International Monetary Fund (IMF). So, what does this mean for everyday Papua New Guineans—especially low-income earners? Here’s a breakdown and practical steps to consider. What Is Inflation, and Why Should You Care? Inflation refers to the general rise in prices of goods and services over time. When inflation is high, your money buys less. But when it's low—as it is now—it can mean prices are stable, or even decreasing, which can be a short-term relief. Why the Low Inflation Matters Right Now F...