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August inflation rate 0.2 per cent — STATIN

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August inflation rate 0.2 per cent — STATIN

KINGSTON, JamaicaThe Statistical Institute of Jamaica (STATIN) has released the All Jamaica Consumer Price Index Bulletin for August 2020, showing a jump from 105.7 in July, to 105.9. It means that the inflation rate for the month was 0.2 per cent. 

The Consumer Price Index (CPI) measures changes in the general level of prices of consumer goods and services purchased by private households.

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STATIN said the increase was largely as a result of the 1.2 per cent increase in the index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division.

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The groups ‘Transport’ and ‘Recreation, Sport and Culture’ also recorded increases — 0.3 per cent and 1.2 per cent, respectively. However, the agency said these increases were moderated by a 0.5 per cent decline in the index for the heaviest weighted division — ‘Food and Non-Alcoholic Beverages’, due mainly to lower prices for vegetables for the review period

Other notable divisional increases for August 2020, STATIN said, were: ‘Personal Care, Social Protection and Miscellaneous Goods and Services’ and ‘Furnishings, Household Equipment and Routine Household Maintenance’, which each recorded an increase of 0.6 per cent and 0.3 per cent, respectively

The division ‘Alcoholic Beverages, Tobacco and Narcotics’ recorded an increase of 0.1 per cent. The index for the ‘Clothing and Footwear’ and ‘Health’ divisions moved up by 0.4 per cent and 0.5 per cent respectively. 

The August 2020 inflation rate for the Greater Kingston Metropolitan Area stood at 0.1 per cent; the figure for Other Urban Centres was 0.3 per cent; and it was 0.2 per cent for Rural Areas

STATIN said that as at August 2020, the calendar year-to-date inflation rate was 3.4 per cent, the point-to-point rate was 5.1 per cent, and the fiscal year-to-date rate was 2.1 per cent. 

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