Economy Registers 1.7% Inflation for 2016

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The inflation rate for 2016 was 1.7-percent.

This is down from 3.7-percent when compared to 2015.

The figures from the Statistical Institute of Jamaica, STATIN, show the movement in the Consumer Price Index (CPI) for December 2016 was zero point three percent.

Housing, water, electricity, gas and other fuels recorded the highest movement for December 2016.

They increased by 0-8-percent due primarily to increased electricity, water and sewage rates for the month.

‘Food and Non-Alcoholic Beverages’ were the highest weighted divisions.

They moved up by 0.4-percent.

This was mainly due to an increase of 0-8-percent in ‘Vegetables and Starchy Foods’.

Transport recorded the lowest movement.

It was the only division to register a decline, moving down by 0.5-percent.

This as a result of lower fuel prices on the local market.

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One thought on “Economy Registers 1.7% Inflation for 2016

  1. Marcus A Bogle

    Finally there seems to be some continuity in the policies of different government Administration…and this is now bearing fruit for Jamaica: Land We Love! We only hope the sacrifices of the people will, never again, be squandered. #TalkTheTruth

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