STATIN reports 6.8% annual inflation as at August

The cost of goods and services increased by 6.8 per cent on an annual basis as at August.
The Statistical Institute of Jamaica says the inflation rate was influenced by increases in the cost of the heavily weighted divisions: 'Food and Non-Alcoholic Beverages' and 'Restaurants and Accommodations Services'.
A further increase in costs was halted by a 1.2 per cent drop in the costs associated with 'Transportation'.
The rate of price increases was just outside the Bank of Jamaica's four to six per cent target range.
For the month of August alone, STATIN says prices went up by one per cent.
The main contributor to this movement was a 1.4 per cent rise in the cost of 'Food and Non-Alcoholic Beverages'. There was also higher rates for mobile communication services.
The BOJ projects that inflation will return to it target range by the end of the calendar year.

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