Date: July 17, 2018
The consumer price index for the month of June 2018 increased 0.4%, following the negligible movement in May 2018, according to The Statistical Institute of Jamaica (STATIN). The Consumer Price Index for the month amounted to 248.0, relative to the 247.0 reported for May 2018. This increase was largely attributed to the movement in two divisions, ‘Housing Water, Electricity, Gas and Other Fuels’ up by 1.2% and ‘Transport’ up by 0.8%. Inflation within the Greater Kingston Metropolitan Area, Other Urban Centres and Rural Areas all registered an increase in their respective index of 0.3%, 0.6% and 0.4% respectively.
The index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division recorded a 1.2% increase in its index for June 2018, following a 0.2% upward movement for May 2018. This was a result of the group ‘Electricity, Gas and Other Fuels’ increasing 2.0% following an increase of 1.4% in the month of May 2018. According to STATIN, this movement was “due largely to increased rates for electricity, water and sewage”. In addition, increases in the water and sewage rates also resulted in the group ‘Water Supply and Miscellaneous Services Related to the Dwelling’ to increase by 0.8 %.
The index for the ‘Transport’ division recorded a 0.8% increase in its index for June 2018, following a negligible movement for May 2018. According to STATIN, “This increase was mainly attributed to higher petrol prices.”
The index for the ‘Food and Non-Alcoholic Beverages’ division also recorded a 0.3% increase in its index for May 2018, following a 0.2% downward movement for May 2018. This resulted from the upward movements within the ‘Food’ and ‘Non Alcoholic Beverages’ groups by 0.3% and 0.2% respectively. Within the ‘Food’ group, the class ‘Vegetables and Starchy Foods’ increased 0.7%. According to STATIN, this was as a result of the “Higher prices for produce such as yellow yam, lettuce and carrot.” In addition, the index for the class ‘Fruit’ also recorded a 0.6% upward movement. Within the ‘Non-Alcoholic Beverages’ group the classes ‘Mineral Waters, Soft Drinks, Fruit and Vegetable Juices’ and ‘Coffee, Tea, and Cocoa’ both recorded increases of 0.1% and 0.3% respectively.
The division ‘Health’ and ‘Restaurants and Accommodation Services’ each grew by 0.2% for June 2018. This movement in the index ‘Health’ was as a result of the 0.4% increase in the group ‘Medical Products, Appliances and Equipment’ while the movement in the index ‘Restaurants and Accommodation Services’ was mainly attributable to the “increases in the price of meals consumed away from home.”
The index for the divisions ‘Clothing and Footwear’, ‘Alcoholic Beverages and Tobacco’ and
‘Furnishings, Household Equipment & Routine Household Maintenance’ also recorded increases of 0.1% for June 2018. The increase in the index ‘Clothing and Footwear’ was mainly due to the 0.1% increase in the group ‘Footwear’. The movement in the index ‘Furnishings, Household Equipment & Routine Household’ was as a result of a 0.4% increase the group ‘Household Textiles’ and a 0.3% increase in each of the groups ‘Glassware, Tableware and Household Utensils’ and ‘Tools and Equipment for House and Garden’.
The division ‘Miscellaneous Goods and Services’ also climbed by 0.1% in its index for June 2018. According to STATIN, this was as a result of an “increase in the prices of personal care and personal effects products”. Notably, the other divisions ‘Recreation and Culture’, ‘Communication’ and ‘Education’ all recorded a negligible movement for June 2018.
The Inflation rate year to date is -0.3%, while the point-to-point rate (June 2017 – June 2018) and fiscal year 2018/ 2019 was 2.8% and 0.0% respectively. Individual divisions saw the following changes:
- Food and Non-Alcoholic Beverages: (0.3%)
- Alcoholic Beverages and Tobacco: (0.1%)
- Clothing and Footwear: (0.1%)
- Housing, Water, Electricity, gas and Other Fuels: (1.2%)
- Furnishing, Household Equipment and Routine Household Maintenance: (0.1%)
- Health: (0.2%)
- Transport: (0.8%)
- Communication: (0.0%)
- Recreation and Culture: (0.0%)
- Education: (0.0%)
- Restaurants and Accommodation Services: (0.2%)
- Miscellaneous Goods and services: (0.1%)
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