Thursday 26 November, 2020

Consumer Price Index up 0.2 per cent for September

The price of goods and services in Jamaica has increased by an overall 0.2 per cent for September, according to data from the Statistical Institute of Jamaica (STATIN).

Consumer Price Index for September 2020 - which measures changes in the general level of prices of consumer goods and services purchased by private households - was 106.1, while the calendar year-to-date inflation rate for Jamaica is 3.6 per cent.

The inflation rate for the three regions are Greater Kingston metropolitan area 0.5 per cent, other urban centres 0.6 per cent and rural areas -0.2 per cent.

The division ‘education’ was the biggest contributor to the increase in inflation rate with a 22.4 per cent jump due to higher tuition fees for the new school year. 

Electricity rates also increased by 1.9 per cent during the review period.

The heaviest weighted division ‘food and non-alcoholic beverages’ recorded no increase in its index. 

However, the class ‘cereals and cereal products’ moved up by 1.0 per cent, while ‘meat and other parts of slaughtered land animals’ saw an increase of 2.1 per cent in prices for September.

The class ‘vegetables, tubers, plantains, cooking bananas and pulses’ recorded a decline of 2.8 per cent, which was due to lower prices for agricultural produce, moderating the division’s overall movement.

The division ‘housing, water, electricity, gas and other fuels’ recorded a decline of 2.2 per cent in the index, primarily as a result of a 20.7 per cent fall in water and sewage rates.

The ‘transport’ division also recorded a decline in its index of 0.1 per cent due mostly to a reduction in petrol prices.

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