Point-to-point inflation as reflected in the All Jamaica Consumer Price Index for April 2024 rose by 5.3 per cent, marking the second-consecutive month that price increases have fallen with the Bank of Jamaica’s range of 4 to 6 per cent.

This was 0.3 per lower than the of 5.6 per cent between March 2023 and March 2024.

“This downward movement in the CPI for April was due mainly to a 2.3 per cent decline in the index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division as a result of lower electricity, water and sewage rates.,” the Statistical Institute of Jamaica (STATIN) outlined.

“Also contributing to the fall in the inflation rate was a 0.6 per cent fall in the index for the division, ‘Food and Non-Alcoholic Beverages’, the agency added.

The prices in the food category declined by less than one per cent while the prices for non-alcoholic beverages rose only marginally. The softening of the cost of food items was led by a 3.7 per cent decline in the ‘vegetables, tubers, plantains, cooking bananas and pulses’ category.

Lower prices for agricultural produce such as carrot, tomato, Irish potato, sweet potato and yellow yam, as well as in the category for ready-made food and other food products also contributed to the decline in inflation.

Additionally, the price index for the ‘Transport’ division fell by 0.6 per cent, reflecting the decline in the index for the class ‘Passenger Transport Services’.

Since the start of the year, inflation has declined by 1.8 per cent.

For the 12 months, the main contributors of inflation were ‘food and non-alcoholic beverages’ (5.3 per cent), ‘transport’ (9.5 per cent) and ‘housing, water, electricity, gas and other fuels’ (5.0 per cent).