Consumer Price Index (CPI)

The All-Jamaica Consumer Price Index (CPI) increased by 0.8 per cent for February 2022 as released today by the Statistical Institute of Jamaica (STATIN). This movement was largely impacted by the 1.3 per cent increase in the index for the heavily weighted ‘Food and Non-Alcoholic Beverages’ division.

The increase in the division ‘Food and Non-Alcoholic Beverages’ was mainly attributed to the 2.2 per cent increase in the index for the class ‘Meat and other parts of slaughtered land animals’ due to increased prices for chicken products. Also contributing to the upward movement in the division was the 1.0 per cent increase in the index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’, as prices increased for some vegetables. However, this movement was moderated by the fall in prices for some starchy produce.

The inflation rate was also impacted by a 0.9 per cent increase in the index for the ‘Housing, Water, Electricity, Gas and Other Fuels’ division, due to increases in the rates for electricity, water and sewage. Also contributing to the upward movement in the inflation rate was a similar 0.9 per cent increase in the index for the ‘Transport’ division as a result of higher prices for fuels.

The point-to-point inflation rate (February 2021 – February 2022) was 10.7 per cent. This was influenced mainly by the inflation rate for the divisions: ‘Food and Non-Alcoholic Beverages’ (12.8%), ‘Housing, Water, Electricity, Gas and Other Fuels’ (10.4%) and Transport’ (14.2%). The fiscal year-to-date inflation rate was 10.1 per cent.

The Consumer Price Index (CPI) measures changes in the general level of prices for consumer goods and services purchased by private households. The February 2022 Consumer Price Index Bulletin outlines additional information and may be obtained from the Statistical Institute of Jamaica website at www.statinja.gov.jm or the Information Section at (876) 630-1619. Visit the Institute’s Facebook, LinkedIn and Instagram pages @STATINJA for the February 2022 CPI infographic.