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Inflation at 45-year low

THE Statistical Institute of Jamaica (STATIN) has reported that Jamaica’s inflation rate remains at a record low level, and was 1.7 per cent at the end of December.

It’s the lowest inflation rate the country has seen in more than 45 years. According to the website Trading Economics, which analyses economic data from more than 196 countries, the inflation rate in Jamaica has averaged 9.79 per cent from 2002 until 2016, reaching an all-time high of 26.49 per cent in August 2008 and a record low of 1.60 per cent in November 2016.

STATIN, in a release yesterday, said the downward trend in inflation was led by a 0.3 per cent increase in the All Jamaica All Divisions Consumer Price Index (CPI) for December 2016.

Published in the Observer
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