Inflation as measured by the All-Jamaica Consumer Price Index (CPI) recorded an increase of 0.9 per cent for August 2021.
The inflation numbers were released today by the Statistical Institute of Jamaica (STATIN). It shows that the increase in the index was impacted by a 1.8 per cent upward movement in the index for heaviest weighted division ‘Food and Non-Alcoholic Beverages’.
For the group ‘Food’, there was a similar 1.8 per cent rise in the index, largely attributed to a 4.4 per cent increase in the index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’.
General price increases in Housing, Water, Electricity, Gas and other fuels
The increase of 0.3 per cent in the ‘Housing Water, Electricity, Gas and Other Fuels’ division during the review period was due mainly to higher electricity rates. This, however, was tempered by a decline of 1.6 per cent in the index for the group, ‘Water Supply and Miscellaneous Services relating to the Dwelling’.
Also contributing to the overall inflation rate was the 0.4 per cent increase in the index for the ‘Transport’ division, due mainly to higher prices for fuel. Additionally, there was a 0.6 per cent increase in the index for the ‘Recreation, Sport and Culture’ division, which was largely due to higher prices for textbooks and stationery materials.
For the review period, the point-to-point (August 2020 – August 2021) inflation rate was 6.1 per cent, the fiscal-year-to-date (April 2021 – August 2021) rate was 4.3 per cent and the calendar year-to-date (January 2021 – August 2021) rate was 4.7 per cent.
The inflation rates for the three regions were: Greater Kingston Metropolitan Area, 0.8 per cent, Other Urban Centres, 0.9 per cent and Rural Areas 0.9 per cent. The Consumer Price Index measures changes in the general level of prices of consumer goods and services.