July Inflation Outturn: The Highest Recorded Since The Start Of The Year

• According to the Statistical Institute of Jamaica’s (STATIN’s) monthly Consumer Price Index (CPI) survey, the inflation rate for the month of July 2019 was 1.1%. This represents the biggest month-over-month increase in the CPI since the start of the calendar year. 
• This movement was mainly as a result of a 2.4% increases in the ‘Food and Non-Alcoholic Beverages’ component of the index during the month. In particular, the component related to ‘Vegetables and Starchy Foods’ advanced by 7.9 %, reflecting higher prices for produce such as carrots, cabbage, lettuce, onions, tomatoes and yams. At the same time the index for ‘Transport’ moved up by 0.7 % due to higher cost for petrol and air travel.
• On the other hand, the overall movement in the index for ‘Housing, Water, Electricity, Gas, and Other Fuels’ division declined by 1.4 %. Increased rates for water and Sewage were tempered by the fall in electricity rates resulting in the index for the group ‘Water Supply and Miscellaneous Services Related to Dwelling’ recording a 4.1 % increase, while the index for the group ‘Electricity, Gas, and Other Fuels’ showed a decline of 3.5 %.
• For the period under review the calendar year-to-date movement was 2.5 %, the point-to-point inflation 4.3 % and the fiscal year-to-date 1.8 % for the period.

(Soure: STATIN)