The Statistical Institute of Jamaica (STATIN) in their latest report on the Consumer Price Index (CPI) has reported an inflation rate of -0.1 per cent for June 2019.

In a news release from the entity yesterday it was reported that the movement in the basket of goodies was attributed to a “1.2 per cent fall in the index for the division ‘Housing, Water, Electricity, Gas, and Other Fuels’ due to lower electricity rates. Additionally, there was a 1.0 per cent decrease in the ‘Transport’ division, which was attributable to lower petrol prices and airfares”, it stated.

The rate, it further adds, was moderated by ‘Food and Non-Alcoholic Beverages’ which tends to be heavily weighted in the basket, this was advanced by 0.2 per cent.

The release further briefed that for the reviewed calendar period the “year-to-date movement was a positive 1.4 per cent, the point-to-point inflation 4.2 per cent and the fiscal year-to-date 0.8 per cent”.

A breakdown for the June 2019 period shows a decline in the index for each of the three regions.

“The Greater Kingston Metropolitan Area (GKMA) went down by 0.1 per cent, Other Urban Centers (OUC) by -0.2 per cent, and Rural Areas (RA) by -0.2 per cent,” it revealed.

The Consumer Price Index (CPI) is that variable that measures changes in the general level of prices of consumer goods and services purchased by private households.

http://www.jamaicaobserver.com/news/negative-inflation-for-june_170103