News
JAM | Aug 15, 2023

Slight increase in Jamaica’s Consumer Price Index for July

Tamoy Ashman

Tamoy Ashman / Our Today

Reading Time: < 1 minute
Statistical Institute of Jamaica.

Jamaica’s Consumer Price Index (CPI) increased by an average 1.1 per cent for July, mainly driven by price adjustments in the cost of food and non-alcoholic beverages.

However, the increases were highest for vegetables, tubers, plantains, cooking bananas and pulses, which rose by 9.9 per cent for the period.

Prevailing drought conditions will also see consumers paying even higher prices for cabbage, Irish potato, tomato, sweet pepper and yellow yam.

The inflation rate was also impacted by a 0.5 per cent increase in products and services related to housing, water, electricity, gas and other fuels over the review period. This was mainly due to higher electricity, water and sewage rates.

Additionally, the recreation, sport and culture index moved up by 0.4 per cent due to higher prices for books and stationery supplies.

The point-to-point inflation rate, from July 2022 to July 2023, was an average 6.6 per cent.

The main contributors were an 11.3 per cent increase in food and non-alcoholic beverages, and a 12.4 per cent rise in prices for restaurants and accommodations services for the one-year review period.

Additionally, an 11.3 per cent increase in the cost for furnishings, household equipment and routine household maintenance, and a 1.6 per cent increase in the housing, water, electricity, gas and other fuels also affected the point-to-point inflation rate.

Comments

What To Read Next