September 16, 2021
Consumer Price Index – August 2021
According to the Statistical Institute of Jamaica (STATIN) the consumer price index for August 2021 was 112.3 resulting in an inflation rate of 0.9% when compared to the previous month’s inflation rate of 1.5%. STATIN noted that, “This movement was primarily due to the 1.8% increase in the index for the heavily weighted ‘Food and Non-Alcoholic Beverages’ division. The index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’ rose by 4.4% as prices continued to increase for some agricultural produce such as yam, tomato and sweet pepper.” Furthermore, “ The index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division increased by 0.3% during the review period, due mainly to an increase in electricity rates. This movement was however, moderated by a decline in water and sewage rates..”
The index for the ‘Food and Non-Alcoholic Beverages’ division increased by 1.8% for August 2021 mainly due to the 1.8% rise in the index for the group ‘Food’. The index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’ rose by 4.4% influenced mainly by higher prices for agricultural produce such as yam, Irish potato, tomato and sweet pepper. Other classes registering notable increases were: ‘Meat and other parts of slaughtered land animals’ (1.2%), ‘Fruits and nuts’ (2.9%) and ‘Cereals and cereal products’ (0.5%). The index for the ‘Non-Alcoholic Beverages’ group increased by 0.5%.
The ‘Alcoholic Beverages, Tobacco and Narcotics’ division grew by 0.2% for August 2021, resulting from the 0.3% increase in the index for the group ‘Alcoholic Beverages’ attributable to higher prices for spirits, wines and beers. While the division for ‘Clothing and Footwear’ observed an increase of 0.6% in its index for August 2021. In the index, the group ‘Clothing’ and ‘Footwear’ rose by 0.7% and 0.5% respectively.
The index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division rose by 0.3% influenced by higher rates for electricity which led to the 1.1% increase in the index for the group ‘Electricity, Gas and Other Fuels’. There was also an increase in the index for the ‘Maintenance, Repair and Security of the Dwelling’ group which moved up by 2.2%. This was however tempered by the 1.6% fall in the index for the group ‘Water Supply and Miscellaneous Services Relating to the Dwelling’. The decline in this group was due to lower water and sewage rates.
Inflation of 0.4% was recorded for the division ‘Furnishings, Household Equipment and Routine Household Maintenance’ primarily due to the 0.4% increase in the index for the group ‘Goods and Services for Routine Household Maintenance’ as a result of higher prices for some household non-durable items such as laundry soaps, detergents and other cleaning products. All of the other groups within this division registered increases.
The division for ‘Health’ recorded an increase of 0.3% in its index for August 2021. The main contributing factor to this upward movement was the 0.3% increase in the group ‘Medicines and Health Products’. ‘Outpatient Care Services’ recorded a 0.6% uptick.
The index for the ‘Transport’ division increased by 0.4% which was influenced by higher petrol prices for personal transport equipment. The index for the division ‘Restaurants and Accommodation Services’ increased by 0.3% for August 2021. Resulting from increased prices for meals consumed away from home as well as higher prices for accommodation services.
The ‘Recreation, Sport and Culture’ division registered a 0.6% rise for the period under review. Resulting from a 0.7% increase registered for the group, ‘Newspapers, Books and Stationery’. This upward movement resulted from higher prices for schoolbooks and stationery.
The movement in the index for calendar year-to-date was 4.7% and the point- to-point was 6.1% as at August 2021. The Greater Kingston Metropolitan reported inflation of 0.8%, while the Rural Areas and Other Urban Centres both reported inflation of 0.9%.
Individual divisions saw the following changes:
- Food and Non-Alcoholic Beverages: (1.8%)
- Alcoholic Beverages, Tobacco and Narcotics: (0.2%)
- Clothing and Footwear: (0.6%)
- Housing, Water, Electricity, Gas and Other Fuels: (0.3%)
- Furnishing, Household Equipment and Routine Household Maintenance: (0.4%)
- Health: (0.3%)
- Transport: (0.4%)
- Information and Communication: (0.0%)
- Recreation, Sport and Culture: (0.6%)
- Education: (0.0%)
- Restaurants and Accommodation Services: (0.3%)
- Insurance and Financial Services (0.0%)
- Personal Care, Social Protection and Miscellaneous Goods and Services: (0.6%)
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