Zero inflation in Jamaica – January

On average, prices in Jamaica hardly moved in the first month of 2018, according to data released by Statistical Institute of Jamaica (STATIN) as a result the inflation for the past 12 months ended at 4.8 percent.
“The inflation rate recorded a negligible movement according to the January 2018 Consumer Price Index,” Statin stated in their released today. “This was as a result of fluctuations recorded in the index for the heaviest weighted divisions: Food and Non-Alcoholic Beverages, Transport and Housing, Water, Electricity, Gas and Other Fuels. The highest weighted division, Food and Non-Alcoholic Beverages registered a fall of 0.2 percent, due mainly to the class Vegetables and Starchy Foods recording a decline in its index of 1.4 percent because of lower prices for starchy foods and vegetables.”
Housing, Water, Electricity, Gas and Other Fuels increased by 0.3 percent, primarily resulting from higher electricity and water rates. The index for Education rose by 0.5 percent.
Revaluation of the Jamaican dollar against the US dollar during the last two months of 2017 and improvement in weather conditions that resulted in more supply of local foods would have been major contributors to the moderation in inflation.

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