Aug 2016 Financial News

July records inflation of 0.5 per cent (Jamaica)

Aug 16, 2016

THE inflation rate for the month of July 2016 was 0.5 per cent, which was mainly impacted by the division ‘housing, water, electricity gas and other fuels’, which recorded an increase of 2.7 per cent — the highest movement recorded for any division.

At the same time, the Statistical Institute of Jamaica (STATIN) said higher rates for electricity, water and sewage continued to influence the upward movement in the index for the groups, ‘electricity, gas and other fuels’ (4.6 per cent), and ‘water supply and miscellaneous services related to the dwelling’ (2.8 per cent).

The highest weighted division — ‘food and non-alcoholic beverages’, meanwhile, showed an increase of 0.3 per cent, due mainly to increased prices for vegetables and starchy foods.

According to STATIN, the calendar year-to-date movement was -0.1 per cent, the point-to-point rose by 2.1 per cent, while the fiscal year-to-date moved upwards by 1.2 per cent.

“The other divisions that recorded increases in the All Jamaica ‘All Divisions’ index were: ‘alcoholic beverages and tobacco’, (0.3 per cent); ‘clothing and footwear’, (0.1 per cent); ‘health’ (0.2 per cent); ‘transport’, (0.1 per cent); ‘recreation and culture, (0.2 per cent); and ‘miscellaneous goods and services’, (0.2 per cent). ‘Communication’,” said STATIN. It added that ‘education’, and ‘restaurants and accommodation services’ each recorded negligible movement.

The regional index showed upward movements for all three regions. Greater Kingston Metropolitan Area, other urban areas and rural areas each recorded increases of 0.5 per cent each.

Source:
Jamaica Observer
Tuesday August 16, 2016

http://www.jamaicaobserver.com/news/July-records-inflation-of-0-5-per-cent_70788