A hike in food prices contributed to higher inflation
Jamaica's inflation rate for November was one per cent.
STATIN reports that the point-to-point inflation rate of 4.3% from November 2023 to November this year, was driven by increases in food, utilities, and restaurant services.
Year-to-date inflation as of November stands at 3.8 per cent.
The Statistical Institute of Jamaica attributes the rise primarily to a 2.1 per cent increase in the 'Food and Non-Alcoholic Beverages' category.
This jump was driven by a 5.7 per cent hike in the prices of vegetables, tubers, and plantains, following supply shortages caused by Tropical Storm Rafael.
Higher electricity rates also contributed, with the 'Housing, Water, Electricity, Gas, and Other Fuels' category seeing a 0.4% increase.
Additionally, the cost of education rose by 1.1%, reflecting higher Caribbean Secondary Education Certificate (CSEC) examination fees.
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