August 14, 2008

The All Jamaica ‘All Divisions’ Consumer Price Index for the month of July 2008 was 134.0, this represents a 2.8 per cent increase over the index of 130.3 recorded for the previous month. This was the highest movement since November 2007 when the index moved by 3.2 percent. For the calendar year to date the rate of inflation was 14.7 per cent. This movement was 1.8 percentage points above the 1.0 per cent that was recorded for the corresponding period in 2007. The rate of inflation for the fiscal year to date was 9.0 per cent. Point -to-point inflation of 26.2 per cent was recorded for the period July 2008 when compared to July 2007.

A look at the regional indices showed increases for all three regions ‘Greater Kingston Metropolitan Area’ up by 1.6 per cent, ‘Other Urban Centres’ up by 3.4 per cent and ‘Rural Areas’ by 3.5 per cent.

Increases were recorded for all the divisions during the month of July 2008, with the exception of ‘Communication’ and ‘Education’ for which there was negligible movements. The major areas contributing to the increase in the index were ‘Transport’ 9.9 percent, impacted by higher prices being paid for bus fares in the other Urban Centres and Rural Areas and Housing, Water, Electricity, Gas and Other Fuels which increased by 6.9 per cent due largely to higher electricity cost.

The index for ‘Food and Non-Alcoholic Beverages’ increased by 1.2 per cent, ‘Alcoholic Beverages and Tobacco’ moved up by 1.5 per cent, ‘Clothing and Footwear’ up by 1.0 per cent, ‘Furnishings, Household Equipment & Routine Household Maintenance’ up by 1.9 per cent, ‘Health’ up by 0.3 per cent, ‘Recreation and Culture’ up by 1.6 per cent, ‘Restaurant and Accommodation Services’ up by 0.5 per cent and ‘Miscellaneous Goods and Services’ increased by 0.7 per cent.

The Revised Consumer Price index Bulletin July 2008 further outlines additional information and may be obtained from the Distribution office of the Statistical Institute of Jamaica 7 Cecelio Avenue, Kingston 10. Data is also available on the STATIN website at www.statinja.com