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The latest bulletin from the Statistical Institute (STATIN) reveals that inflation shot up by 2% in May this year 1.5% more than the month earlier. The rate of inflation was 11.5% for the calender year to date.
This movement was more than six percentage points above the 5.1% which was recorded for the corresponding period in 2007.
The rate of inflation for that fiscal year to date was 6%.
Point to point inflation of 24% was recorded between June last year and June 2008.
The consumer price index reveals that all categories of commodities and services were up with major increases in food and beverages, clothing, housing, furnishing, transport and restaurant accommodation services.
Reacting to the latest statistics, Financial Analyst John Jackson attributed the spike in inflation to the sharp increase in oil prices and new fiscal policies introduced by the Bruce Golding Administration during the budget debate in April.
This movement was more than six percentage points above the 5.1% which was recorded for the corresponding period in 2007.
The rate of inflation for that fiscal year to date was 6%.
Point to point inflation of 24% was recorded between June last year and June 2008.
The consumer price index reveals that all categories of commodities and services were up with major increases in food and beverages, clothing, housing, furnishing, transport and restaurant accommodation services.
Reacting to the latest statistics, Financial Analyst John Jackson attributed the spike in inflation to the sharp increase in oil prices and new fiscal policies introduced by the Bruce Golding Administration during the budget debate in April.