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News Economy
Jamaica records 0.6% inflation rate for November – STATIN
By BUZZ Writer
An aerial view of Kingston, Jamaica.
The Statistical Institute of Jamaica (STATIN) is reporting a 0.6 per cent inflation rate for November as the Consumer Price Index (CPI) moved from 106.9 in the previous month to 107.6.
This increase, STATIN said, was mainly due to an increase of 1.7 per cent in the heavily weighted 'Food and Non-Alcoholic Beverages' division.
"There was a 1.8 per cent upward movement in the index for the 'Food' group, which was mainly attributed to an increase of 5.7 per cent in the index for the class 'vegetables, tubers, plantains, cooking bananas and pulses', a recent release said, noting that the increase in this division was largely influenced by higher prices for agricultural produce such as carrot, cabbage, tomato and sweet pepper as a result of reduced supplies due to adverse weather conditions.
STATIN said that there was also a slight increase in the index for the 'housing, water, electricity, gas and other fuels' division due to higher electricity rates, which resulted in the index increasing by 3.8 per cent. It, however, said that a further movement in the division was tempered by the decline of 2.3 per cent in the index for the group 'rentals for housing'.
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