Point-to-point inflation drops to 7.8% for February

Inflation up to February hit its lowest point-to-point rate since December 2021.
For the 12 months up to February, the cost of goods and services increased by 7.8 per cent.
In the comparative period last year, inflation was 10.7 per cent.
February's inflation outturn reflects a continued fall in price movements, which peaked at 11.8 per cent last April.
The Statistical Institute of Jamaica (STATIN) says the rise in the cost of goods over the 12 months was due to an 11.3 per cent increase in the cost of 'Food and Non-alcoholic Beverages', along with 'Restaurants and Accommodations Services', as well as Gas and other Fuels'.
For the month of February alone, prices rose by 0.5 per cent.
STATIN says the increase was mainly due to a 2.7 per cent rise in the division 'Housing, Water, Electricity, Gas, and other Fuels'.

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