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Annual inflation drops to 5.3% at April

Point-to-point inflation was 5.3 per cent for April.
 
The Statistical Institute of Jamaica (STATIN) says the rise in the cost of goods and services for the 12 months, was influenced by a 5.3 per cent average increase the cost of 'Food and Non-Alcoholic Beverages'.
 
April out-turn represents the second time since the start of the year, the rate has fallen within the Bank of Jamaica's 4 to 6 per cent target range, after a 5.6 per cent annual inflation was recorded for March.  
 
Transport costs rose 9.5 per cent, while price of goods and services in the 'Housing, Water, Electricity, Gas and Other Fuels' categories went up by an average 5 per cent.
 
For the month of April 2024 alone, STATIN says there was an average 0.7 per cent decline in prices.
 
The month's movement was due mainly to a 2.3 per cent decline in costs associated with 'Housing, Water, Electricity, Gas and Other Fuels', linked to lower electricity, water and sewage rates.
 
Also contributing to the fall in the inflation rate was a 0.7 per cent drop in food prices.


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