STATIN releases first inflation figure under new CPI

[Lazie]

STATIN releases first inflation figure under new CPI

Wednesday, 03 October 2007

The Statistical Institute of Jamaica (STATIN) has released its first inflation figure since unveiling its revised Consumer Price Index (CPI) last Friday.

The agency says inflation for August was 0.9 per cent.

This followed the one per cent movement in July and 0.8 per cent increase reported in June.

Inflation for the fiscal year to August was 4.5 per cent.

Under the revised CPI, 12 divisions formerly referred to as a group are now used to measure movements in the average cost of living.

[Lazie]

STATIN releases first inflation figure under new CPI

Wednesday, 03 October 2007

The Statistical Institute of Jamaica (STATIN) has released its first inflation figure since unveiling its revised Consumer Price Index (CPI) last Friday.

The agency says inflation for August was 0.9 per cent.

This followed the one per cent movement in July and 0.8 per cent increase reported in June.

Inflation for the fiscal year to August was 4.5 per cent.

Under the revised CPI, 12 divisions formerly referred to as a group are now used to measure movements in the average cost of living.

Somebody correct mi. If the CPI being used was last calculated from during the 80s, doesn't that means the inflation numbers have been incorrect all along? No wonder when they put out inflation figures people asking if these people live in Jamaica?

[Mosiah]

What an upside down economy the JLP inherited!?! Only God (and Wehby) can straighten out this mess!

[Lazie]

What an upside down economy the JLP inherited!?! Only God (and Wehby) can straighten out this mess!

Am I picking some sarcasm there?

This morning on Real Business Ralston Hyman had Don Anderson on the program after reading about consumer confidence prior to the election. Hyman was climbing up the wall how people are saying the economy is in shambles only to be told by the pollster that the confidence is coming from the expected change of gov't. Luckily Ronnie was there to ask a few questions afterwards.

[Mosiah]

Is 7% inflation okay with you? When the JLP left office in 1989, what was the inflation rate?

[Lazie]

Is 7% inflation okay with you? When the JLP left office in 1989, what was the inflation rate?

Whats the point you're trying to make. Again. If the basket of goods being used to calculate the CPI is incorrect, then wouldn't the inflation rate be incorrect?

[Mosiah]

Is 7% inflation okay with you? When the JLP left office in 1989, what was the inflation rate?

[Muadib]

Is 7% inflation okay with you? When the JLP left office in 1989, what was the inflation rate?

Less than when they took over ?

Mek mi warn you.. defending the indefensible is not advised..

[Mosiah]

Is 7% inflation okay with you? When the JLP left office in 1989, what was the inflation rate?

[Muadib]

Depends on various other factors.

Less than when they took office.