A combination of factors led to a hike in inflation in October as measured by the Consumer Price Index (CPI) of movements for householders.
According to the Statistical Institute of Jamaica (STATIN), the inflation rate as recorded by the All Jamaica ‘All Divisions’ Consumer Price Index was 0.8 percent for October 2013. Impacting the index for this month was the 3.9 percent increase in the index for the division ‘Housing, Water, Electricity, Gas and Other Fuels’ due mainly to upward movement in the cost of water and sewerage, which resulted in a rise of 20.0 percent in the group ‘Water Supply and Miscellaneous Services Related to the Dwelling’. Also increasing in this division was the group ‘Electricity, Gas and Other Fuels’ which rose by 2.9 percent. All other divisions with the exception of ‘Transport’ and ‘Communication’ recorded increases in their index Statin stated. Transport fell by 0.4 percent due to lower prices for petrol and air fares while Communication fell by 0.6 percent due to the reduction in some telecommunication rates.
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The calendar year-to-date inflation rate for October 2013 was 8.6 percent, the point-to-point 10.3 percent. The October out turn reflects moderation from the 2.8 percent recorded for September, which Statin said stemmed mainly from bus fare increases.
The other divisions that recorded increases in the All Jamaica ‘All Divisions’ index were: ‘Food and Non-Alcoholic Beverages’ 0.4 percent, ‘Alcoholic Beverages and Tobacco’ 1.8 percent, ‘Clothing and Footwear’ 0.2 percent, ‘Furnishings, Household Equipment and Routine Household Maintenance’ 0.6 percent, ‘Health’ 0.4 percent, ‘Recreation and Culture’ 0.3 percent, ‘Restaurants and Accommodation Services’ 0.1 percent, and ‘Miscellaneous Goods and Services’ 1.1 percent.
The regional index showed upward movements in all three regions: Greater Kingston Metropolitan Area 0.8 percent, Other Urban Centres recorded a movement of 0.9 percent and Rural Areas 0.8 percent.
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