Consumer prices rose sharply in September, this year, as recorded by the consumer price index. The inflation rate climbed 0.7 percent according to the Statistical Institute of Jamaica (STATIN) and resulted in year-to-date inflation of 3.7 percent.
Inflation for the past twelve months is 4.6 percent and the fiscal year-to-date movement at 2.6 percent. The rise in September comes against the back ground of the rate moderating in July and August.
According to Statin, “the main contributor to this movement was the 2.6 percent rise in the division ‘Housing, Water, Electricity, Gas and Other Fuels’ due mostly to higher electricity rates. The rise in the division’s index was moderated by a fall in water and sewage rates.”
‘Food and Non-Alcoholic Beverages’ went up by 0.4 percent influenced mainly by a 1.1 percent increased for the class ‘Vegetable and Starchy Foods’. Other notable increases were for ‘Restaurants and Accommodation Services’ (1.0 percent) due to increase in prices for meals consumed away from home and ‘Education’ (2.0 percent) as a result of higher tuition fees.
Inflation jumps in September
October 19, 2017 by
