ZET - JamaicaGazette.com
Jamaica Government News and Information
Ministries, Departments and Agencies

Page 14

Ministry of Finance and the Public Service Fiscal Policy Paper Interim Report September 2017 12 | P a g e

Data from STATIN indicates that the inflation rate for August 2017 was 0.3%. The CPI index for the division ‘Recreation and Culture’ recorded the highest movement, followed by the increase in the index for ‘Food and Non-Alcoholic Beverages’. The index for ‘Recreation and Culture’ was influenced mainly by increased prices for books and other school equipment, while increases within the ‘Food and Non-Alcoholic Beverages’ division was due mainly to an upward movement for the group ‘Food’. This group was mainly impacted by an in the sub-group ‘Vegetable and Starchy Foods’ due to higher prices for produce such as cabbage, potato and yam. The only division to record a decline in its index was ‘Housing, Water, Electricity, Gas and Other Fuels’. Although there was an upward movement in the index for the group ‘Water Supply and Miscellaneous Services Related to the Dwelling’, the increase was tempered by a fall in the index for ‘Electricity, Gas and Other Fuels’.

Inflation for the calendar year up to end-August 2017 was 3.0 per cent, and 2.0% for the fiscal year to end-August 2017.

Table 2B

Exchange Rate

At the end of August 2017, the weighted average selling rate of the US Dollar was J$129.65 = US$1.00, compared to J$127.57 = US$1.00 at the end of August 2016. This 1.6%

rate of depreciation was significantly slower than the 8.2% annual depreciation at the similar

J un 2 0 16 Inde x

A ug 2 0 16 Inde x

D e c 2 0 16 Inde x

M a r 2 0 17 Inde x

J un 2 0 17 Inde x

J ul 2 0 17 Inde x

A ug 2 0 17 Inde x

M o nthly % c ha ng e fo r

A ug 2 0 17

F Y 17 / 18 : Q1 (% c ha ng e )

A nnua l % c ha ng e a t J un 2 0 17

A nnua l % c ha ng e a t A ug 2 0 17

F Y 17 / 18 to A ug 2 0 17

(% c ha ng e )

C Y 2 0 17 to A ug 2 0 17

(% c ha ng e )

ALL DIVISIONS - ALL ITEMS 231.0 233.1 236.3 238.7 241.2 242.7 243.4 0.3 1.1 4.4 4.4 2.0 3.0

1 Food and Non-Alcoholic Beverages

287.1 288.9 294.0 296.2 300.0 303.6 305.5 0.6 1.3 4.5 5.8 3.1 3.9

2 Alcoholic Beverages and Tobacco

291.7 292.9 294.7 296.5 304.1 305.2 306.4 0.4 2.6 4.2 4.6 3.4 4.0

3 Clothing and Footwear 233.4 233.7 234.8 235.7 236.6 236.8 237.4 0.2 0.4 1.4 1.6 0.7 1.1

4 Housing, Water, Electricity, Gas and Other Fuels 205.1 214.5 220.2 230.1 230.3 229.5 228.4 -0.5 0.1 12.3 6.5 -0.8 3.7

5 Furnishings, Household Equipment and Routine Household Maintenance

230.6 231.3 232.8 233.7 234.7 234.9 235.1 0.1 0.4 1.8 1.6 0.6 1.0

6 Health 143.8 144.4 145.5 145.9 146.3 146.4 146.7 0.2 0.3 1.7 1.6 0.5 0.8

7 Transport 202.6 202.5 202.9 202.6 207.4 208.0 207.9 0.0 2.4 2.4 2.7 2.6 2.5

8 Communication 66.9 66.9 66.9 66.9 66.9 66.9 66.9 0.0 0.0 0.0 0.0 0.0 0.0

9 Recreation and Culture 184.1 186.0 186.7 187.2 188.8 188.9 191.3 1.3 0.8 2.6 2.9 2.2 2.5

10 Education 182.6 182.6 190.3 190.3 190.3 190.3 190.3 0.0 0.0 4.2 4.2 0.0 0.0

11 Restaurants and Accommodation Services

190.5 190.5 190.8 191.1 193.7 193.8 193.9 0.1 1.4 1.7 1.8 1.5 1.6

12 Miscellaneous Goods and Services

224.8 225.7 227.8 229.7 230.5 230.9 231.0 0.1 0.3 2.5 2.4 0.6 1.4

All Jamaica ‘All Divisions’ and Division Indices and Movements (Base period December 2006 = 100)

Source: STATIN

...
June 12, 2021


Page 30

Ministry of Finance and the Public Service Fiscal Policy Paper 2017 27 | P a g e

Table 2E

Exchange Rate

The selling rate of the US dollar at the end of December 2016 was US$1.00 = J$128.44. This reflects a 6.7% depreciation of the domestic currency for the 2016 calendar year, compared to the 5.6% devaluation for 2015. The faster pace of depreciation was mainly due to the impact of movements in the exchange rate during April and May, resulting from increased pressure associated with higher investor demand for income earning assets to replace the earlier huge maturity of GOJ securities. Since then, the exchange rate has remained relatively stable. In fact, there was a small appreciation of the Jamaica dollar towards the latter part of the calendar year.

There was a similar effect on the movement of the exchange rate between the beginning of FY 2016/17 and the end of the third quarter. Over the period, the domestic currency depreciated by 5.2% relative to 4.7% for the corresponding period of the previous fiscal year.

D e c 2 0 15 Inde x

M a r 2 0 16 Inde x

N o v 2 0 16 Inde x

D e c 2 0 16 Inde x

M o nthly % c ha ng e fo r

D e c 2 0 16

C a le nda r Ye a r 2 0 16

(% c ha ng e )

F Y 16 / 17 to D e c 2 0 16

(% c ha ng e )

ALL DIVISIONS - ALL ITEMS

232.3 229.3 235.6 236.3 0.3 1.7 3.1

1 Food and Non-Alcoholic Beverages

293.7 287.5 292.8 294.0 0.4 0.1 2.3

2 Alcoholic Beverages and Tobacco

286.6 288.7 294.3 294.7 0.1 2.8 2.1

3 Clothing and Footwear 231.0 231.8 234.6 234.8 0.1 1.6 1.3

4 Housing, Water, Electricity, Gas and Other Fuels 205.9 200.4 218.4 220.2 0.8 6.9 9.9

5 Furnishings, Household Equipment and Routine Household Maintenance

223.4 229.5 232.5 232.8 0.1 4.2 1.4

6 Health 142.7 143.1 144.9 145.5 0.4 2.0 1.7

7 Transport 200.3 195.6 203.9 202.9 -0.5 1.3 3.7

8 Communication 66.9 66.9 66.9 66.9 0.0 0.0 0.0

9 Recreation and Culture 182.2 183.1 186.6 186.7 0.0 2.5 1.9

10 Education 182.6 182.6 190.3 190.3 0.0 4.2 4.2

11 Restaurants and Accommodation Services

188.1 190.3 190.6 190.8 0.1 1.3 0.3

12 Miscellaneous Goods and Services

222.0 223.5 226.9 227.8 0.4 2.6 1.9

All Jamaica ‘All Divisions’ and Division Indices and Movements (Base period December 2006 = 100)

Source: STATIN

...
June 12, 2021


SEARCH