Inflation rate reaches 6.2 % in 2019

Inflation rate reaches 6.2 % in 2019

Sunday, January 19, 2020

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The All Jamaica Consumer Price Index recorded an inflation rate of 0.5 per cent in December 2019, resulting in the calendar year inflation rate of 6.2 per cent, according to the Consumer Price Index (CPI) Bulletin – December 2019.

The Statistical Institute of Jamaica (STATIN), which released the figures through their bulletin informed that the upward movement in December of 0.5 per cent was mainly as a result of a 1.5 per cent increase in the index for the division, of “housing, water, electricity, gas and other fuels” and a 0.5 per cent increase in the division for “food and non-alcoholic beverages”.

Director General of STATIN in the bulletin further revealed that: “The movement for the division housing, water, electricity, gas and other fuels” was due mainly to higher rates for electricity, water and sewage. The increase for the heaviest weighted division food and non-alcoholic beverages was mostly as a result of higher prices for vegetables.”

For the month of December 2019, the three regions recorded increases in their index numbers: Greater Kingston Metropolitan Area (GKMA) was 0.6 per cent, other urban centres (OUC) 0.5 per cent and rural areas (RA) 0.4 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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