Consumer Prices rose 0.5% in July according to data released from the Statistical Institute of Jamaica. This follows a 0.3% decline in the index in the previous month. The increase in consumer prices was attributed to higher Food prices as the ‘Food and Non-Alcoholic Beverages’ division rose 1.6%.

Provisional data for July indicate that the Central Government exceeded its fiscal deficit target by $2,380.7Mn, with an outturn of $9,463.0Mn versus the budget of $11,843.7Mn. While the revenue outturn compared favorably to budget, it was the significant shortfall in expenditure which tempered the deterioration in the fiscal account.

On September 11, 2012, Guardian Holdings Limited (GHL), in a joint statement with Lascelles deMercado & Co. Limited (LAS), announced the acquisition by GHL of 100% of the issued share capital of Globe Insurance Company of Jamaica Limited (Globe) from LAS, for a cash consideration of US$38 Million.

Campari has reached an agreement with 81.4% of the holders of Lascelles de Mercado to acquire a majority stake in the company.

The Board of Directors of the Jamaica Stock Exchange has approved a quarterly dividend of 6.57% per annum on Redeemable Variable Rate Preference Shares for the period June 1, 2012 to August 31, 2012 in the amount of $0.0330 per share.

Radio Jamaica Limited has advised that Mrs. Claire Grant has been appointed General Manager of Television Jamaica effective September 1, 2012.

The Board of Directors of Scotia Group Jamaica Limited will consider a dividend payment at a meeting scheduled for August 30, 2012.

Standards & Poor’s ratings agency has raised its short term ratings of Jamaica to B from C but has affirmed the B- long term foreign currency and local currency rating.

For the month of July, consumer prices fell 0.3% which represents the lowest rate recorded since February 2011 (when consumer prices fell by 0.4%).

The Board of Directors of Supreme Ventures Limited has declared a dividend of $0.08 per ordinary share payable on August 30, 2012 to shareholders on record as at August 15, 2012. The ex-dividend date is August 13, 2012.