Prices increased for October, by a mere 0.1 percent over September this year, in line with the increases in February and June but above a negative 0.3 percent in April. For November, this year, The Statistical Institute of Jamaica (Statin) reveals that as at the Consumer Price contracted by 0.5 percent versus October 2014.
The November fall, represents the lowest inflation rate since the start of the 2014. The division ‘Food and Non-Alcoholic Beverages’ declined by 0.1 per cent, and was mainly due to lower prices for vegetables. A reduction in the cost of electricity and lower rates for water and sewage were the key factors influencing the division ‘Housing, Water, Electricity, Gas and Other Fuels’, which declined by 3.6 percent. The latest inflation data brings the year to date level to 6.7 percent and the final number for 2014 should end up closer to 6 percent with the price of oil continuing to fall on the world market and local food products coming back in good quantities.
Jamaican prices fall expect more
December 16, 2014 by IC Insider.com
Filed Under: Breaking News, Economy, Feature Stories Tagged With: Economy, Fall in oil prices, Inflation in Jamaica, Statin
About IC Insider.com