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Consumer Price Index falls

Published:Tuesday | March 17, 2015 | 10:02 AM

The Statistical Institute of Jamaica (STATIN) is reporting that the Consumer Price Index (CPI) fell by 0.7 per cent in February.

This followed the fall of 0.5 per cent that was recorded for the month of January 2015.

STATIN says the main contributor to the decline was the 3.6 per cent decrease in the index for the division ‘Housing, Water, Electricity, Gas and Other Fuels’ resulting from lower rates for electricity and water.

However, it says within this division, these movements were tempered by an upward movement in the wages for carpenters, masons, plumbers, painters and electricians during the month.

Also contributing to the decline was a 0.6 per cent fall in ‘Food and Non-Alcoholic Beverages’, which is the heaviest weighted division.

STATIN says all other divisions recorded movements of below 0.5 per cent.

Meanwhile, the movement in the CPI in the Greater Kingston Metropolitan Area was minus 0.8 per cent, in Other Urban Centres minus 0.6 per cent and in Rural Areas it moved by  minus 0.5 per cent.

The calendar year-to-date inflation rate for February 2015 was minus 1.1 per cent, the point-to-point 4.5 per cent and the fiscal year-to-date 3.4 per cent.