Jamaica's point-to-point Inflation as at August 2018 is 3.9%

The All Jamaica Consumer Price Index (CPI) for August 2018 recorded an inflation rate of 0.9 per cent. This was outlined in the Consumer Price Index Bulletin – August 2018 released today by the Statistical Institute of Jamaica (STATIN). The upward movement in August 2018 CPI was influenced by a 1.6 per cent increase, in the index for the ‘Food and Non-Alcoholic Beverages’ division. This was primarily due to higher prices for agricultural produce resulting in an increase of 0.6 per cent in the class ‘Vegetables and Starchy Foods’. Another influence on the upward movement was the ‘Furnishing, Household Equipment and Routine Household maintenance’ division as a result of the increase in the Minimum Wage of approximately 13.0 per cent. These increases were mitigated by a fall of 0.1 per cent in the index for the division ‘Housing, Water, Electricity, Gas and Other Fuels’, due to lower electricity rates. The calendar year-to-date inflation was 1.6 per cent while the movement in the index for the fiscal year-to-date was 1.9 per cent and the point-to-point movement was 3.9 per cent. A breakdown of the three regions for the month showed that all three regions recorded increases in their index: Greater Kingston Metropolitan Area (KMA) (1.2 per cent), Other Urban areas (OUC) (1.0 per cent), and Rural Areas (0.7 per cent).

 

Source: STATIN