Dec 2014 Financial News

November records lowest inflation rate (Jamaica)

Dec 16, 2014

KINGSTON, Jamaica (JIS) – The Statistical Institute of Jamaica (STATIN) is reporting that the month of November recorded the lowest inflation rate for 2014.

In its consumer price bulletin released Monday, December 15, STATIN says inflation fell by 0.5 per cent when compared to October.

This fall resulted in a year-to-date inflation rate of 6.7 per cent, down from 7.3 per cent, and a fiscal year-to-date inflation rate of 5.0 per cent, down from 5.5 per cent.

STATIN explains that the fall in prices for November resulted from downward movements in the index for the three highest weighted divisions. There was a 0.1 per cent decline in prices for ‘Food and Non-Alcoholic Beverages’, mainly vegetables; a 3.6 per cent reduction in the ‘cost of electricity, water and sewerage’ and a decrease of 0.6 per cent in ‘transportation costs’, due to lower oil prices on the international market.

The November Consumer Price Index also shows that prices fell by 0.4 per cent in the Greater Kingston Metropolitan Area, 0.5 per cent in other urban centres and 0.6 per cent in rural areas.

However, STATIN says some divisions recorded increases for the month of November. These include Alcoholic Beverages and Tobacco, Clothing and Footwear, Furnishings, Household Equipment and Routine Household Maintenance as well as Restaurants and Accommodation Services.

Source:
Jamaica Observer
Tuesday December 16, 2014

http://www.jamaicaobserver.com/news/November-records-lowest-inflation-rate