Business

Negative inflation for June

Thursday, July 18, 2019

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The Statistical Institute of Jamaica (STATIN) in their latest report on the Consumer Price Index (CPI) has reported an inflation rate of -0.1 per cent for June 2019.

In a news release from the entity yesterday it was reported that the movement in the basket of goodies was attributed to a “1.2 per cent fall in the index for the division 'Housing, Water, Electricity, Gas, and Other Fuels' due to lower electricity rates. Additionally, there was a 1.0 per cent decrease in the 'Transport' division, which was attributable to lower petrol prices and airfares”, it stated.

The rate, it further adds, was moderated by 'Food and Non-Alcoholic Beverages' which tends to be heavily weighted in the basket, this was advanced by 0.2 per cent.

The release further briefed that for the reviewed calendar period the “year-to-date movement was a positive 1.4 per cent, the point-to-point inflation 4.2 per cent and the fiscal year-to-date 0.8 per cent”.

A breakdown for the June 2019 period shows a decline in the index for each of the three regions.

“The Greater Kingston Metropolitan Area (GKMA) went down by 0.1 per cent, Other Urban Centers (OUC) by -0.2 per cent, and Rural Areas (RA) by -0.2 per cent,” it revealed.

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

— Kellaray Miles


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