Consumer Price Index – June 2020
The consumer price index for June 2020 was 105.2 resulting in an inflation rate of 1.4% increase when compared to previous month’s 103.8 price index, according to the Statistical Institute of Jamaica (STATIN). According to Statistical Institute of Jamaica (STATIN), this increase was as result of, ‘Food and Non- Alcoholic Beverages’, the heaviest weighted division 3.6% rise in its index. Furthermore, STATIN noted, “Higher prices for agricultural produce such as Irish potato, yellow yam, carrot, and lettuce for the review period, resulted in the index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’ moving up by 14.4 per cent.”
While, the division of ‘Housing, Water and Electricity, Gas and Other Fuels’, recorded a rate of 0.3% decrease and ‘Transport’ went down by 0.1%, these movement in the index was offset by a rise of 0.4% each in the index for the following; ‘Household Equipment and Routine Household Maintenance’, ‘Furnishing’ and ‘Personal Care, Social Protection and Miscellaneous Goods and Services’. Inflation within the Greater Kingston Metropolitan Area, Rural Areas and Other Urban Centres each recorded an inflation rate of 1.2%, 1.2% and 1.5%, respectively for June 2020. Notably, for the fiscal year-to-date the inflation rate was 1.4% for the period under review.
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