Data out from the Statistical Institute of Jamaica (STATIN) indicates that the inflationary pressures in the goods producing sector has been moderate during August this year.
According to the government body charged with responsibility to collect and collate data on the country, the Producer Price Index for the Mining & Quarrying industry increased by 0.2 percent for August. This was due to the upward movement of 0.2 percent in the index for the major group ‘Bauxite Mining & Alumina Processing’. Producer prices for the Manufacturing industry increased by 0.4 percent the result of the movement in the major groups, ‘Food, Beverages & Tobacco’ and ‘Refined Petroleum Products’ that showed increases of 0.2 percent and 3.0 percent respectively. However the index for the major groups ‘Chemicals and Chemical Products’ showed a decline of 5.0 percent.
The point to point period, August 2012 to August 2013 showed movement in the index for the Mining & Quarrying industry of 13.6 percent, a decline of 0.3 percentage point below the 13.9 percent recorded for the previous period. Additionally the point to point for Manufacturing recorded an increase of 8.2 percent. This increase resulted from advances of 8.0 percent and 9.7 percent for the two most influential major groups namely ‘Food, Beverages & Tobacco’ and ‘Refined Petroleum Products’.
For April 2013 to August 2013, the index for Mining & Quarrying industry advanced by 2.1 percent, while the Manufacturing industry increased by 1.5 percent for the corresponding period.
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