Jamaica’s inflation up 5% year to August

inflationahead280x150The inflation rate for Jamaica based on Consumer Price Index was 1.1 percent In August 2014 which is better that the 1.4 percent out turn in July and for the year to August is 5 percent.
This inflation rate for the month was chiefly the result of a 2.7 percent upward movement in the index for the division of Food and Non-Alcoholic Beverages.” The index for the group ‘Food’ increased by 2.8 per cent as production levels of some agricultural crops declined due to the continued drought conditions across the island, This resulted in higher prices for the classes ‘Vegetables and Starchy Foods’ and ‘Fruit’ which rose by 9.8 per cent and 2.6 per cent respectively,” Statin Said in their release on the inflation data.

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