Jamaica’s inflation rate fell slightly in August but remained at an elevated level of 1.1%.
This compares to the 1-point-4 percent recorded in July, which was the highest rate since September 2013.
August’s inflation rate was driven mainly by a 2.7% upward movement in the index for the division ‘Food and Non-Alcoholic Beverages’.
The increase in the Food index was due to a continued decline in production levels of some agricultural crops as a result of continued drought conditions across the island during the month.
Much of the increase in the Food group was due to higher prices for ‘Vegetables and Starchy Foods’ which rose by 9.8%.
Moderating the impact of these increases were the 1.3% decline in the index for the division
‘Housing, Water, Electricity, Gas and Other Fuels. This, due to a fall in the cost of electricity, and a 0.2% fall in the cost of ‘Transport’.
The division ‘Transport’ was influenced by lower petrol prices.
August’s inflation brings the calendar year-to-date inflation to 5 percent, while the point-to-point inflation was 9.8%.
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