Press Release – Consumer Price Index November 2024

The All-Jamaica Consumer Price Index (CPI) for November 2024 was 141.9, reflecting an inflation rate of 1.0 per cent as released today by the Statistical Institute of Jamaica (STATIN).

The main contributor was a 2.1 per cent rise in the index for the division ‘Food and Non-Alcoholic Beverages’, influenced mainly by a 5.7 per cent increase in the index of the class ‘Vegetables, tubers, plantains, cooking bananas and pulses’.

This resulted largely from higher prices for agricultural produce as result of lower supply, following heavy rains from Tropical Storm Rafael.

The inflation rate was also impacted by a 0.4 per cent increase in the index for the division ‘Housing, Water, Electricity, Gas and Other Fuels’ attributed to higher electricity rates.

Additionally, there was a 1.1 per cent rise in the index for the ‘Education’ division, due to increased fees for Caribbean Secondary Education Certificate (CSEC) examinations.

The point-to-point inflation rate (November 2023 – November 2024) was 4.3 per cent.

This was influenced mainly by the point-to-point inflation rate for the divisions: ‘Food and Non-Alcoholic Beverages’ (6.4%), ‘Housing, Water, Electricity, Gas and Other Fuels’ (3.4%) and ‘Restaurants and Accommodation Services’ (3.9%). The calendar year–to-date inflation rate as of November 2024 was 3.8 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 November 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) 630-1626.

Visit the Institute’s Facebook, LinkedIn, and Instagram pages @STATINJA for the November 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.