The Statistical Institute of Jamaica (STATIN) has reported Jamaica’s inflation rate for December 2013 as 0.6 percent, which brings the 2013 calendar year inflation to 9.7 percent and 1.7 percentage points above the 8.0 percent recorded for 2012. Inflation is measured by the All Jamaica ‘All Divisions’ Consumer Price Index. The movement of the local currency, which suffered from a devaluation, played a role in the increase.

The division recording the highest movement for the calendar year 2013 was ‘Transport’ which increased by 20.4 percent due to increased bus fares in September. The ‘Communication’ division recorded the only decline, moving down by 4.2 percent as telecommunication rates fell during the year.

All divisions recorded increased movements for December. ‘Food and Non-Alcoholic Beverages’ moved up by 0.5 percent due mainly to increased prices in eggs and sugar; ‘Transport’ which moved up by a similar 0.5 percent due to the higher cost of petroleum and its related products and air fares; and ‘Housing, Water, Electricity, Gas and Other Fuels’ moving up by 0.7 percent, due to the higher cost for electricity. The movement from April was 6.8 percent as at December 2013.

All other divisions that make up the All Jamaica index recorded increases for December 2013. ‘Miscellaneous Goods and Services’ went up by 0.8 percent. ‘Furnishings Household Equipment and Routine Household Maintenance’ and ‘Restaurants and Accommodation Services’ each increased by 0.7 percent. ‘Clothing and Footwear’ rose by 0.5 percent, ‘Alcoholic Beverages and Tobacco’ 0.4 percent, ‘Recreation and Culture’ 0.3 percent and ‘Health’, 0.2 percent. There was no movement recorded for ‘Education’ and ‘Communication’.

The Index advanced in all three regions: Greater Kingston Metropolitan Area (GKMA), 0.7 percent, Other Urban Centres (OUC) and Rural Areas, 0.5 percent.

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The Statistical Institute of Jamaica (STATIN) reported a slowdown in inflation for November compared with 0.9 percent in October and 1.03 percent in September.

According to the body charged with collecting and collating economic data on behalf of the Government of Jamaica, the All Jamaica ‘All Divisions’ Consumer Price Index for November 2013 was 209.9 reflecting an inflation rate of 0.5 percent when compared to the index of 209.0 for October. This upward movement was mainly the result of a 0.7 percent rise in the index for the most heavily weighted division, ‘Food’ & Non-Alcoholic Beverages’. The impact of this movement was however tempered by the 0.2 percent fall in the index for the second most heavily weighted division ‘Transport’. This was the only division to record a decline for the month, with lower petrol prices being the contributing factor. The index for the division ‘Housing , Water, Electricity Gas and Other Fuels’ rose by 0.2 percent, and there was a 0.3 percent advance in the index for ‘Education’ impacted mainly by an increase in the cost of examination fees.

For the first 11 months of the calendar year 2013, the inflation rate was 9.1 percent. Year over year, inflation for November was 10.2 percent and for April-to-date the movement was 6.2 percent.

The other divisions that recorded increases in the All Jamaica ‘All Divisions’ index were: ‘Clothing and Footwear’ 0.7 percent, ‘Restaurants and Accommodation Services’ and ‘Miscellaneous Goods and Services’ each recorded increases of 0.6 of percent,’ Furnishings, Household Equipment and Routine Household Maintenance’ 0.5 percent, Alcoholic Beverages and Tobacco’ 0.4 percent, ‘Health’ 0.3 percent, and ‘Recreation and Culture 0.2 percent.

There were upward movements in all three regional indices: Greater Kingston Metropolitan Area 0.7 percent, Other Urban Centres recorded a movement of 0.4 percent and Rural Areas 0.4 percent.

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