-1.1 % inflation in January

-1.1 % inflation in January

Point-to-point inflation was 5.2 per cent while the fiscal year-to-date was 4.3 per cent

Wednesday, February 19, 2020

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The All Jamaica Consumer Price Index recorded an index of 267.5 in January 2020 resulting in an inflation rate of -1.1 per cent, according to the Consumer Price Index (CPI) Bulletin — January 2020 released earlier this week by the Statistical Institute of Jamaica (STATIN).

The downward movement in January was mainly as a result of declines in the following divisions: food and non-alcoholic beverages 1.4 per cent; housing, water, and electricity, gas and other fuels 4.0 per cent; and Transport 0.7 per cent.

The movement for the heaviest weighted division, food and non-alcoholic beverages was impacted significantly by lower prices for agricultural produce resulting in a decline of 4.9 per cent in the class vegetables and starchy foods in the housing, water, electricity, gas and other Fuels division, lower rates for electricity resulted in the 9.1 per cent decline for the group electricity, gas and other fuels. However, increased water and sewage rates led to a 7.2 per cent rise in the index for the group water supply and miscellaneous services related to the dwelling which tempered the downward movement of the division's index.

For the review period, the point-to-point inflation was 5.2 per cent while the fiscal year-to-date was 4.3 per cent.

For the month of January 2020, the three regions recorded declines in their index numbers: Greater Kingston Metropolitan Area (GKMA) was -1.4 per cent, other urban centres (OUC) -1.3 per cent, and rural areas (RA) -0.8 per cent.

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


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