August inflation increase moderate

The inflation rate for August 2013 compared to July 2013 rose by 0.4 per cent as measured by the All Jamaica ‘All Divisions’ Consumer Price Index.

The index for the division ‘Transport’ recorded the highest movement of 0.9 per cent for the month, largely the result of a rise in the cost of airfares, motor vehicles and petrol and its related products. The most heavily weighted division ‘Foods & Non-Alcoholic Beverages’ recorded an upward movement of 0.2 per cent. In this division the highest movement of 2.0 per cent was recorded for the class” Fruit’.  This movement was however moderated by the decline of 1.0 per cent for ‘Vegetables and Starchy Foods’. The index of 2.2 per cent in “Water Supply and Miscellaneous Services Related to the Dwelling” which was tempered by a decline of 0.3 per cent in “Electricity, Gas and Other Fuels” the report from Statistical Institute of Jamaica disclosed.

The year–to-date inflation was 4.8 per cent, 1.5 percentage point above the 3.3 per cent that was recorded for the similar period in 2012.The point-to-point movement was 9.5 per cent.

All other divisions that make up the All Jamaica index recorded increases below 1.0 per cent. ‘Alcoholic Beverages and Tobacco’ rose by 0.4 per cent, ‘Clothing and Footwear,’ 0.4 per cent, ‘Furnishings Household Equipment’ and Routine Household Maintenance’, 0.2 per cent, ‘Health’, 0.3 per cent, ‘Recreation and Culture’, 0.7 per cent, ‘Restaurants and Accommodation Services’ 0.4 per cent, and ‘Miscellaneous Goods and Services’ 0.8 per cent. There was no movement recorded for both ‘Communication’ and ‘Education.’

There were increases in all three regions: Greater Kingston Metropolitan Area, 0.4 per cent, Other Urban Centres, 0.6 per cent and Rural areas, 0.2 per cent.