There was no inflation in Jamaica in December, according to data from the Statistical Institute of Jamaica. Not only was there no inflation on an overall basis, but prices also fell marginally, with the price index slipping from 128 in November to 127.9 in December.
According to Statin, the outcome emanated from a 1 percent decline in the index for the heaviest weighted division, Food and Non-Alcoholic Beverages and a 0.9 percent fall for the Transport division. The fall in food prices was due to lower prices for carrots, tomatoes, cabbage and lettuce, being the main contributors to the 6.3 percent decrease in the index for the class Vegetables, tubers, plantains, cooking bananas and pulses. The fall in the transport index resulted mainly from lower petrol cost. There were increases in the index for the divisions; Restaurants and Accommodation Services by 3.4 percent, impacted mainly by increased prices for meals consumed away from home, and Housing, Water, Electricity, Gas and Other Fuels that was up 0.7 percent, due mainly to increases in the rates for electricity, water and sewage.
For December 2022, the point-to-point inflation rate was 9.4 percent compared to the 10.3 percent that was recorded for November and 8.8 percent for 2022, marginally down from 9.1 percent for the 2021 calendar year.