Press Release – Consumer Price Index December 2024

The All-Jamaica Consumer Price Index (CPI) for December 2024 was 143.5, representing an increase of 1.2 per cent as released today by the Statistical Institute of Jamaica (STATIN).

The primary contributor to this increase was a 1.9 per cent increase in the index for the ‘Food and Non-Alcoholic Beverages’ division.

The increase in the division’s index was chiefly influenced by a 5.5 per cent upward movement in the index for the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’.

While higher prices were observed across all classes within the division, the increase was notable for items such as sweet pepper, sweet potato, tomato, cabbage and eggs.

The second largest contributor to the overall monthly inflation rate was a 2.4per cent increase in the index of the ‘Housing, Water, Electricity, Gas and Other Fuels’ division.

This was primarily due to an increase in water and electricity rates.

These increases were partially offset by a 0.3 per cent fall in the index of the ‘Transport’ division which was mainly attributable to lower petrol prices.

The point-to-point inflation rate (December 2023 – December 2024) was 5.0 per cent.

This was influenced mainly by the point-to-point inflation rate for the divisions: ‘Food and Non-Alcoholic Beverages’ (8.1%), ‘Housing, Water, Electricity, Gas and Other Fuels’ (3.2%) and ‘Restaurants and Accommodation Services’ (4.0%).

The Consumer Price Index (CPI) measures changes in the general level of prices for consumer goods and services purchased by private households.

The December 2024 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 December 2024 CPI infographic.

About Us: The Statistical Institute of Jamaica is the National Statistics Office and the leading provider of official statistics on the country’s economic, social, demographic, and environmental conditions. The Institute periodically releases monthly, quarterly, and annual products such as Gross Domestic Product (GDP), inflation rate, international merchandise trade, social and population statistics. STATIN is dedicated to delivering accurate, comprehensive, and timely data that supports informed decision-making and aligns with the Institute’s mission.