Inflation down, says STATIN
The Statistical Institute of Jamaica (STATIN) is reporting that inflation fell by 0.3 per cent in December 2014 when compared to November 2014.
STATIN says the All Jamaica ‘All Divisions’ Consumer Price Index, which measures the change in the price level of goods and services purchased by a household, was 224.1 in December, compared to 224.9 in November 2014.
It says the fall in inflation resulted from a 0.6 per cent decrease in ‘Food & Non-Alcoholic Beverages’ division, which STATIN says was due mainly to lower prices for vegetables.
Lower rates were also reportedly recorded for water and sewerage, in addition to a reduction in the cost of electricity contributing to a 1.2 per cent decline in the division of 'Housing, Water Electricity gas and other fuels'.
The fall in global oil prices is also being credited for a decline of 0.4 per cent in the Transportation division.
STATIN says this recent fall in inflation has resulted in a 6.4 per cent movement in both the calendar year-to-date and the point-to-point inflation rate for the December 2014 period.
This means that the year-to-date movement as at December 2014, was 4.6 per cent.
THE GLEANER MINUTE