Jamaica’s point-to-point inflation rate has fallen for the third consecutive month. That’s according to the latest information from the Statistical Institute of Jamaica.
Point-to-point inflation measures the rate of inflation at a given point compared to the corresponding point in the previous year.
STATIN says the rate at the end of February was 7.8 per cent, the lowest since December 2021.
That was down slightly from 8.1 per cent recorded in January.
STATIN attributes February’s rate to changes in the division’s Food and Non-Alcoholic Beverages, Restaurants and Accommodations Services and Housing, Water, Electricity, Gas and Other Fuels.
It’s good news for the country and the Bank of Jamaica which is attempting to drive inflation back down to the target range of four to six per cent.
Meanwhile, inflation for February increased by 0.5 per cent.
This was mainly influenced by a 2.7 per cent increase in the index for the division Housing, Water, Electricity, Gas and Other Fuels.