Economy Update – Deflation In April

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The latest information for the Consumer Price Index, as published by the Statistical Institute of Jamaica shows that there was a 0.3 per cent decline in April 2014, in other words a deflation of 0.3%. This was the lowest inflation rate recorded since July 2012. The calendar-year-to-date inflation was 1.2% while point-to-point inflation was 7.8%.

The deflation for the month was primarily driven by the 3.8 % decline in the All Jamaica ‘All Divisions’ index for Housing, Water, Electricity, Gas and Other Fuels. This decrease was as a result of a decline in electricity rate, represented by a fall of 7.5 % in the index for the group ‘Electricity, Gas and Other Fuels’.

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