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Inflation spikes in September

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  • Inflation spikes in September

    Inflation in the September quarter amounted to 2%, well within the target range set by the Bank of Jamaica.
    The Bank of Jamaica had forecast inflation for the July to September period at 1.5 to 2.5%.
    The increase pushed consumer prices to 8.1% in September up from 7.7% last month.
    The higher inflation resulted chiefly from hikes in tuition fees associated with the re-opening of school in September.
    Food prices rose marginally in the month, while transport costs fell, due mainly to lower prices for petrol and air fares.
    The interaction of rising and falling prices meant that, on average, consumers faced a 0.8% increase in prices, during September alone
    "Jamaica's future reflects its past, having attained only one per cent annual growth over 30 years whilst neighbours have grown at five per cent." (Article)
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