Prices increased for October rose by a mere 0.1 percent over September this year, and is in line with the increase in February and June but above a negative 0.3 percent in April. The rate for the rest of the year could be negative based on developments locally and overseas.
The inflation rate, the Statistical Institute of Jamaica (Statin) reveals was mainly due to a 0.2 percent increase in the index for the category of Food and Non-Alcoholic Beverages and 0.3 per cent increase in Housing, Water, Electricity, Gas and Other Fuels. This increase in the index for the latter division was mainly as a result of higher water and sewerage charges in October 2014 Statin stated. A 0.8 percent fall of prices in transportation, moderated the effect of the increases, in the other areas. Statin said that the ‘Transport’ division’s index fell as a result of the decline in the cost of airfares, as well as the price of fuel.
Negative Inflation for rest of 2014?
November 27, 2014 by IC Insider.com
Filed Under: Breaking News, Economy, Feature Stories, General Business News Tagged With: Inflation in Jamaica, Inflation in October, Statin, Statistical Institute of Jamaica