April Inflation At 0.1% Keeps Index Below Target


 

The inflation rate for April was 0.1 percent

That’s according to the Consumer Price Index (CPI) Bulletin – April 2019 released Wednesday, May 14, by the Statistical Institute of Jamaica (STATIN).

For the period under review the calendar year-to-date movement was 0.8 per cent, the point-to-point inflation 3.9 per cent and the fiscal year-to-date 0.1 per cent for the period. The Government’s targeted annual inflation rate is in the range 4%-6% which is above the point to point rate.

According to STATIN, the 0.1% movement was mainly attributable to a 0.5 per cent increase in the index for the division ‘Food and Non-Alcoholic Beverages’.

STATIN says also recording an increase was the ‘Transport’ division, which advanced by 0.4 per cent. This was attributable to the rise in petrol prices and its related products.

However, the overall movement for the month was tempered by the 1.5 per cent decline in the index for the ‘Housing, Water, Electricity, Gas, and Other Fuels’ division.

The index for Greater Kingston Metropolitan Area (GKMA) moved up by 0.2 per cent and Rural Areas (RA) up by 0.1 per cent, however, Other Urban Centres (OUC) fell by 0.1 per cent.

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

 

Franklin McKnight

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