Nov 2013 Financial News

Inflation was 0.8% in October (Jamaica)

Nov 18, 2013

The inflation rate in October was 0.8 per cent, according to the Statistical Institue of Jamaica (Statin).

A 20 per cent rise in the cost of water supply and miscellaneous services related to dwellings was the main driver of a 3.9 per cent increase in the index for housing, water, electricity, gas and other fuels.

All other divisions, with the exception of transport and communication, recorded increases ranging from 0.1 per cent (for restaurants and accommodation) to 1.8 per cent (alcohol beverages and tobacco).

The index for food and non-alcoholic beverages rose by 0.4 per cent during the month.

Statin said that transport prices fell by 0.4 per cent due to lower petrol prices and airfares, while communication fell by 0.6 per cent as some telecommunications rates were reduced.

The consumer price index movement during the month pushed 12-month inflation to October to 10.3 per cent, while the inflation for the fiscal year so far (April to October) was 5.7 per cent.

Urban centres outside of the Greater Kingston Metropolitan Area (GKMA) registered higher price movements (0.9 per cent) while rural areas was on par with the GKMA at 0.8 per cent.


Source:
Jamaica Observer
Sunday November 17, 2013

http://www.jamaicaobserver.com/business/Inflation-was-0-8--in-October_15445655#ixzz2l1iSfQVD