Jamaica’s inflation slows in August

Jamaica’s Inflation rate slipped to 0.8 percent in August from 0.9 percent in August 2018 and lower than the 1.1 percent recorded in July this year according to data released by the Statistical Institute of Jamaica.
The major contributors to the latest inflation data were food and non-alcoholic beverages, increasing 0.9 percent and Housing, Water, Electricity, Gas and other Fuels that climbed 1.7 percent due to higher electricity rates. The Transport sector rose 0.3 percent mainly due to higher prices for petrol and air travel.
For the year to date, inflation is up 3.3 percent and 2.6 percent for the fiscal year to date. The 2019 inflation rate is slightly ahead of the 2018 rates with the 2018 year to date inflation at 1.6 percent to August and the fiscal year to date 1.9 percent. Inflation for the last 12 months to August this year is 4.1 percent versus 3.9 percent for the same period in 2018.
The consumer price index measures the price level of consumer goods and purchases, and services from private individuals or households.

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