Inflation At 0.7% In October


 

Inflation in October was 0.7 percent.

This was outlined in the Consumer Price Index (CPI) Bulletin – October 2018 released Thursday, November 8 by the Statistical Institute of Jamaica (STATIN).

STAIN says the movement in the October 2018 CPI was influenced by a 1.7 per cent increase, in the index for the division ‘Food and Non-Alcoholic Beverages’. Prices for vegetables and starchy foods continued to trend upwards resulting in the group ‘Food’ moving upwards by 1.8 per cent. Additionally, the ‘Transport’ division increased by 0.5 per cent as a result of an increase in the price for petrol and air travel. However, these increases were tempered by a 1.3 per cent decline in the division ‘Housing, Water, Electricity, Gas and Other Fuels’ due mainly to reduced rates for electricity despite the increased rates for water and sewage, STATIN said.

The calendar year-to-date inflation was 3.5 per cent while the movement in the index for the fiscal year-to-date was 3.8 per cent and the point-to-point movement was 4.7 per cent.

Rural areas recorded the lowest inflation rate for the month, at 0.4 percent compared to Greater Kingston Metropolitan Areas at 1.1 percent and Other Urban Areas at 0.6 percent.

Franklin McKnight

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