The Statistical Institute of Jamaica (Statin) is reporting a big jump in inflation in the month of September resulting primarily from hike in bus and taxi fares along with electricity cost.

“Inflation measured by the All Jamaica ‘All Divisions’ Consumer Price Index, increased by 2.8 percent for September 2013, the highest  monthly movement experienced since July 2008” Statin said. This movement was influenced significantly by the increase in bus and taxi fares, which resulted in the ‘Transport’ division recording the highest movement for the month, 17.1 percent. Also contributing to the upward inflation rate was the 3.6 percent increase in the index for the ‘Education’ division caused by the rise in the cost of tuition fees for the new school year additionally, the upward movement in electricity cost increased the index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ Division by 3.3 percent.

The calendar year–to-date inflation rose by 7.7 percent up from 4.8 percent in August. The point-to-point movement was 10.4 percent.  All other divisions that make up the All Jamaica index recorded increases. ‘Food and Non-Alcoholic  Beverages by  0.6 percent,  ‘Alcoholic Beverages and Tobacco’ 0.3 percent, ‘Clothing and Footwear,’ 0.7 percent, ‘Furnishings Household Equipment’ and Routine Household Maintenance’, 0.3 percent, ‘Health’, 0.2 percent, ‘Recreation and Culture’, 0.3 percent, ‘Restaurants and Accommodation Services’ 0.2 percent, and ‘Miscellaneous Goods and Services’ up by 0.6 percent. There was no movement recorded for ‘Communication’.

The Index advanced in all three regions: Greater Kingston Metropolitan Area (GKMA), 2.5 percent, Other Urban Centres (OUC), 2.7 percent and rural areas by, 3.1 percent.

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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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Inflation for May as measured by the All Jamaica ‘All Divisions’ Consumer Price Index increased by 0.5 percent, a 0.1 percentage point increase over the 0.4 percent increase recorded for April 2013, this according to a release from the Statistical Institute of Jamaica (Statin).

The CPI movement was influenced by a 0.8 percent increase in prices for ‘Food and Non-Alcoholic Beverages’, the heaviest weighted division in the computation of the Index. The main contributor to the division’s inflation was an increase of 1.3 percent in the index for ‘Vegetables and Starchy Foods’. ‘Transport’, the second heaviest weighted division, recorded a decline, moving down by 0.2 percent. This was primarily because of lower prices for ‘Fuels and Lubricants for Personal Transport Equipment’, particularly petrol, Statin said. The third heaviest weighted division of the CPI, ‘Housing, Water, Electricity, Gas and Other Fuels’, recorded an increase of 0.7 percent. The upward movement in the index for May 2013 resulted in a calendar year-to-date movement of 3.7 percent.

The other divisions that recorded increases were ‘Alcoholic Beverages and Tobacco’ 0.7 percent, ‘Clothing and Footwear’ 0.3 percent, ‘Furnishings Household Equipment and Routine Household Maintenance’ 0.6 percent, ‘Health’ 0.3 percent, ‘Recreation and Culture’ 0.7 percent, ‘Restaurants and Accommodation Services’ 0.3 percent, and ‘Miscellaneous Goods and Services’ 0.4 percent. No movement was recorded for ‘Education and ‘Communication’.

All three regions covered by the survey recorded increases for the period; Greater Kingston Metropolitan Area (GKMA) 0.6 percent, Other Urban Centres (OUC) 0.8 percent and Rural Areas 0.4 percent.