By Judana Murphy
KINGSTON, Jamaica, (JIS) – The Statistical Institute of Jamaica (STATIN) is reporting that the point-to-point domestic inflation rate for September stood at 2.1 percent, marking a modest increase of 0.9 percentage points from the 60-year record low of 1.2 percent recorded in August.
STATIN also indicates that the Consumer Price Index (CPI) rose by 0.8 percent for the review period.
Acting director of administrative Statistics at STATIN, Siomara McDonald, disclosure during the Institute’s Quarterly Press Briefing at S Hotel in Kingston on Wednesday, indicating that the leading contributors to the inflation rate out-turn were the ‘Housing, Water, Electricity, Gas and Other Fuels’ division, which rose by 4.8 percent, and the ‘Restaurants and Accommodation Services’ division, which increased by 4.1 percent.
“However, this continued slowdown in the inflation rate is a result of low increases in two of the heavier-weighted divisions,” McDonald, cited ‘Food and Non-Alcoholic Beverages’, which rose by 0.7 percent –significantly lower than the six percent increase recorded for the corresponding period last year – and ‘Transport’, which moved up by 0.3 percent, compared to a 9.1 percent spike during the same period in the previous year.
Meanwhile, the acting director explained that the 0.8 percent movement in the CPI reflects the overall change in the general price level of goods and services typically purchased by Jamaican households.
“The main contributors… were the ‘Food and Non-Alcoholic Beverages’ division, which rose by 0.9 percent. The chief contributor to this upward movement was a 1 percent increase in the index for the ‘Food’ group. The ‘Housing, Water, Electricity, Gas, and Other Fuels’ division, which increased by one per cent, was attributed to higher rates of electricity,” she informed.
McDonald further indicated that the 5.6 percent increase recorded in the ‘Education’ division reflects adjustments in tuition fees and back-to-school-related expenses. She said these overall movements underscore the ongoing impact of utility-related costs, price adjustments within the service sector, and seasonal factors that typically influence the cost of food and education.
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