Inflation drops again says Statin

The Statistical Institute of Jamaica (Statin) reports that the All Jamaica ‘All Divisions’ Consumer Price Index fell by 0.5 percent in January this year, the third consecutive monthly decline in the inflation rate for Jamaica. The inflation rate was 0.1 percent in October, November was negative 0.5 percent and December negative 0.3 percent. The downward movement in inflation for January was mainly attributable to a fall in the index for the three highest weighted divisions. The index ‘Food and Non-Alcoholic Beverages’ fell by 0.2 percent, followed by the division ‘Housing Water, Electricity,

Gas and Other Fuels’ falling by 3.4 percent and the ‘Transport’ division declining by 1.6 percent. Contributing to these decreases were lower prices for ‘Vegetables and Starchy Foods’, lower rates for water, sewage and electricity, as well as a fall in the international price of crude oil, which impacted the local price for petrol, Statin stated in their release on price movements for January on Monday.
The release went on to state that the divisions that recorded increases in the All Jamaica ‘All Divisions’ index were: ‘Alcoholic Beverages and Tobacco’ 0.4 percent, ‘Clothing and Footwear’ 0.9 percent, ‘Furnishings, Household Equipment and Routine Household Maintenance’ 0.3 percent, ‘Health’ 0.1 percent, ‘Recreation and Culture’ 0.1 percent, ‘and ‘Miscellaneous Goods and Services’ 0.6 percent, while Restaurants and Accommodation Services’ 2.5 percent, ‘Education’, and ‘Communication’ each remained unchanged.