Inflation increases to 6.1% in May

The Statistical Institute of Jamaica (STATIN) has reported that inflation for May was 6.1 per cent following a 0.6 per cent increase.

STATIN said the upward movement was influenced mainly by increases in the index for the divisions ‘Housing, Water, Electricity, Gas and Other Fuels’, which rose by 1.8 per cent, and ‘Food and Non-Alcoholic Beverages’, which went up 0.7 per cent.

The inflation rate was, however, tempered by a decline of 0.3 per cent in the index for the ‘Transport’ division, due to lower petrol prices.

The increase in the ‘Housing, Water, Electricity Gas and Other Fuels’ division’s index was due largely to higher rates for electricity, which resulted in a 6.3 per cent increase in the index for the group ‘Electricity, Gas and Other Fuels’.

For the ‘Food and Non-Alcoholic Beverages’ division, the index for the group ‘Food’ rose by 0.7 per cent and the group ‘Non-Alcoholic Beverages’ increased by 0.8 per cent.

Increases were registered in the index for all classes within the group ‘Food’, with the largest contributor ‘vegetables, tubers, plantains, cooking bananas and pulses’, moving upwards by 1.3 per cent due to higher prices for products such as yam, lettuce, pumpkin and carrot.

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