Inflation jump in July
August 18, 2015 by
Higher rates for electricity, water and sewage were items helping in the inflationary push but the division of ‘Transport’, recorded a decrease of 2.7 per cent, which tempered the upward movement of the overall index. This decline was due largely to 16.7 per cent decrease in adult bus fares for passengers in the Greater Kingston Metropolitan Area taking Jamaica Urban Transit Company (JUTC) buses.
Inflation in a calendar year-to-date inflation rate of 1.4 per cent, while the rate since last year July is 3.8 percent. With the price of oil on the world market at US$42 per barrel and the announcement of reduction in electricity cost locally, will have a moderating effect on inflation going forward for a while.
[…] price movement in the prices for Vegetables and Starchy Foods’ had a major impact on inflation in August with an increase of 0.8 percent resulting in Inflation climbing 3.5 percent since August […]