Economy Update: Inflation Rate for September 2013

Source: STATIN Click to enlarge
Source: STATIN
Click to enlarge

The main indicator of the movement of prices that is used in most countries is the Inflation Rate, which measures the change in the Consumer Price Index (CPI). Jamaica’s CPI for September was 207.2. This represents a whopping 2.78% increase in the CPI. The highest recorded monthly movement since July 2008 as reported by STATIN.

The highest movement within a division was recorded in the ‘Transport’ division, due to the increase in bus and taxi fares that came into effect during the month. Increases in school tuition fees impacted the ‘Education’ division index and electricity cost increased the index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division.

Calendar year-to-date inflation rate for September was 7.64%. For the corresponding period in 2012 this represents a 2.4 percentage point increase over the 5.27% that was recorded and 3 percentage point above the 4.64% that was recorded for the similar period in 2011.

To dig deeper for additional information see Consumer Price Index September 2013.