‘Vegetables and Starchy Foods’ had a strong impact on price movement in June.
The Consumer Price Index for June 2017 increased by 0.7 percent, represented the highest monthly movement for the 2017 to date, a release from the Statistical Institute of Jamaica (Statin) stated.
The rate of inflation for the calendar year-to-date is 2.1 percent, 4.4 percent over June last year, while the fiscal year-to-date rate is 1.1 percent.
According to Statin, the sharp increase in June was due mainly to increases in the index for the three heaviest weighted divisions: Food and Non-Alcoholic Beverages up by 1.1 per cent, Transport 0.4 percent and Housing, Water, Electricity, Gas and Other Fuels up by 0.4 percent. The Food and Non-Alcoholic Beverages division was impacted by the flood rains in mid-May, which disrupted the supplies of agricultural products and resulted in a 3. 7 percent rise in Vegetables and Starchy Foods. The increase in the Transport division was influenced by higher prices for petrol. Increased electricity rates was chiefly responsible for the upward movement in the division Housing, Water, Electricity Gas and Other Fuels, as the class Electricity, Gas and Other Fuels rose by 1.1 per cent. However, the overall movement of the division was tempered by the 1.3 percent decline in the class Water Supply and Miscellaneous Services Related to the Dwelling. Other notable increases were recorded for Restaurants and Accommodation Services, 0.6 percent and Recreation and Culture, 0.4 percent.