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  • The Statistical Institute of Jamaica (STATIN) is reporting that inflation declined by 0.3 per cent in April 2014, the lowest since July 2012.
  • The figure was captured by STATIN’s All Jamaica ‘All Divisions’ Consumer Price Index (CPI).
  • The CPI is a gauge for assessing the performance of the economy, and measures changes in the general level of prices of consumer goods and services purchased by private households.

The Statistical Institute of Jamaica (STATIN) is reporting that inflation declined by 0.3 per cent in April 2014, the lowest since July 2012.

The figure was captured by STATIN’s All Jamaica ‘All Divisions’ Consumer Price Index (CPI).

The CPI is a gauge for assessing the performance of the economy, and measures changes in the general level of prices of consumer goods and services purchased by private households.

In a release, the statistical institute said the calendar year-to-date inflation rate for April 2014 was 1.4 per cent.

STATIN indicated that a major contributor to the decline last month was due to a 3.8 per cent decline in the ‘housing, water, electricity, gas and other fuels’ division, which resulted from a drop in electricity rates.

However, an increase in water and sewerage rates resulted in a 4.0 per cent increase in the index group for ‘Water supply and miscellaneous services related to the dwelling’. Other divisions that recorded increases in April included alcholic beverages and tobacco, clothing and footwear, health and transport.

While opening the Budget Debate in the House of Representatives on April 17, Finance Minister, Dr. the Hon. Peter Phillips, said the headline inflation rate for 2013 was 8.3 per cent, which was below the target range of 8.5 per cent to 10.5 per cent.

“Inflation would have been affected by increases in bus and taxi fares, water and sewerage rates, as well as the pass-through of exchange rate depreciation to domestic prices,” the Minister added.