The rate of inflation in Jamaica, fell in December last, the Statistical Institute of Jamaica (Statin) reported today. Statin reported that the rate for the last month of the year, registered a fall of 0.3 percent over November. In November, the rate declined by 0.5 percent.
The rate for the full year and the point-to-point inflation, each ended at 6.4 percent and compares with 6.4 percent for 2013 but is above the 6 percent achieved in 2011. The increase for 2014 is the second lowest on record, for the past seven years dating back to 2008.
The price movement in December was largely attributable to the “downward movement recorded in the index for the division ‘Food and Non-Alcoholic Beverages’, ‘Housing Water, Electricity, Gas and Other Fuels’ and ‘Transport’. The index for the division ‘Food & Non-Alcoholic Beverages’ declined by 0.6 percent, due mainly to lower prices for vegetables. Lower rates for water and sewage in addition to a reduction in the cost of electricity were key factors influencing the division ’Housing, Water, Electricity, gas and Other Fuels’, which moved down by 1.2 percent. A decrease of 0.4 percent was recorded for the division ‘’Transportation as a result of global reduction in oil prices” Statin said.
On the other hand price increases occurred in Alcoholic Beverages and Tobacco, Clothing and Footwear, Furnishings, Household Equipment and Routine Household Maintenance, Health, Recreation and Culture and Miscellaneous Goods and Services.
Inflation drops in December
January 19, 2015 by
[…] rate for Jamaica. 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 […]