Inflation drops again in Jamaica

The inflation rate declined further in January, according to data released by the Statistical Institute of Jamaica (STATIN).
All Jamaica Consumer Price Index recorded a decline of 0.2 percent for January 2019, the Consumer Price Index compiled by Statin shows.The decline in January follows fall in November and December last year as well as declines for the first 5 months of 2018.
According to Statin, the movement was mainly attributable to a fall of 0.5 percent in the index for the heaviest weighted division Food and Non-Alcoholic Beverages, a 0.1 percent decline in the Housing, Water, Electricity, Gas and Other Fuels division and a fall of 0.6 percent for the Transport division.
Prices trended downwards by 2.5 percent for the group Vegetables and Starchy Foods. Electricity, water and sewage rates fell and led to the groups Water Supply and Miscellaneous Services related to the Dwelling and Electricity, Gas and Other Fuels registering declines of 0.3 and 0.1 percent respectively. Lower costs for petrol resulted in the 0.6 percent fall recorded for Transport. Increased tuition fees contributed to the 1.5 per upward movement recorded for Education while the index for Miscellaneous Goods and Services went upwards by 0.3 per cent.
Inflation for the past twelve months comes out at 2.3 percent the fiscal year-to-date shows a 2.5 percent rise in prices, well down on the country’s central bank’s original forecast of 4 to 6 percent.

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