Inflation Remains Within BOJ’s Target Range, At 5.1%

• The All Jamaica Consumer Price Index for August 2020 was 105.9, indicating an inflation rate of 0.2%. This increase was largely driven by the 1.2% increase in the index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division.
• The groups ‘Transport’ and ‘Recreation, Sport and Culture’ also recorded increases of 0.3% and 1.2%, respectively. However, these increases were moderated by a 0.5% decline in the index for the heaviest weighted division ‘Food and Non-Alcoholic Beverages’ due mainly to lower prices for vegetables for the review period.
• For the review period, the calendar year-to-date inflation rate was 3.4%, point-to-point 5.1%, and the fiscal year-to-date was 2.1% as of August 2020. At 5.1%, the inflation rate remains within the 4%-6% range targeted by the BOJ.

(Source: STATIN)