Inflation Rates are calculated and published each month by the Statistical Institute of Jamaica (STATIN). Inflation is measured through the use of the Consumer Price Index, which captures the rate of price change for goods and services consumed in Jamaica.
Percentage Change In Consumer Price Indices: All Jamaica (base: January 1988)
The Consumer Price Index (CPI) is compiled and published each month by the Statistical Institute of Jamaica (STATIN). It is based on a basket of goods and services containing 480 items. The current series which has a base period of December 2006 reflect data captured in a Household Expenditure Survey conducted from June 2004 to March 2005. The survey covered lower and middle income households with median expenditure of $309,000 in 2004/5, representing 85 per cent of all households.
The CPI for each month is computed using a weighted Laspeyres Index methodology.
Compiled from monthly reports submitted by the Jamaica Bauxite Institute, the Bauxite Companies, the Collector General\\\'s Department, the Sugar Manufacturers\\\' Association, Banana Board, the Jamaica Public Service Company Limited and firms engaged in manufacturing. Bauxite includes bauxite converted into alumina in Jamaica. The figures for bananas refer to exports only. Figures for the other commodities are based on information provided directly by the firms involved.
Rate Of Growth Of GDP Value Added By Industry At Constant (2007) Prices (seasonally Adjusted) (%)
Gross Domestic Product is the total value of final goods and services produced within a country\\\\\\\'s borders in a year. The change in gross domestic product (GDP) from one period to another results from the contribution of two changes, one being the change in the volume of goods and services produced, and the other in the price at which they are sold.
GDP at current prices reflects both these changes, as production for the period is measured at the prices of that period. GDP at constant prices on the other hand reflects only the changes in the volume of production. This indicator measures production of the period at the prices of another period (referred to as the base year).
As part of the system of national accounts, The Statistical Institute of Jamaica carried out revisions in order to incorporate the most current information from regular surveys, censuses, financial records and administrative data. Revisions were undertaken on the annual national accounts, which covered the period from 2001 to 2010, and included the compilation of a supply and use table for 2007, rebasing of the constant price estimates from 2003 to 2007 and revised estimates for:
1. Accounts of the nation
• Gross domestic product by expenditure and income
• Generation and use of disposable income
• Capital accounts
• Rest of the world accounts
2. Value added by industry
Please visit http://statinja.gov.jm for additional information.
The Central Bank stands at the center of the local financial system and is charged with the responsibility to promote and maintain financial system stability. To achieve this objective, the Bank supervises the activities of deposit-taking entities. In addition, the Bank seeks to promote the development of the local financial markets, and regulates and supports the major clearing and settlement systems.
Under the Bank of Jamaica Act (1960), the conduct of monetary policy is aimed at regulating the growth of money and credit in line with the resources expected to finance economic activity and generate employment, without undermining the conditions of price stability.
The Foreign Exchange section provides current and historical information on the movements of major currencies in relation to the Jamaican dollar. The section also provides powerful search techniques for users to manipulate the data and generate customize reports.
The Bank of Jamaica publishes in the daily newspaper each quarter, balance sheet data for commercial banks, building societies and licensees under the Financial Institutions Act . Such financial data is based on unaudited prudential returns submitted by the licensees to the Bank of Jamaica which are required to be certified by the licensee 's management as reflecting a true and fair representation of the affairs and condition of the institution at the reporting date.
The Bank of Jamaica is committed to providing information on its activities on a timely and continuous basis. In this regard, this section is designed to provide access to all major releases compiled by the Bank of Jamaica.
The Bank of Jamaica publications are aimed at providing quality economic and financial analysis and information on Jamaica as well as timely updates on matters relating directly to the functions of the Bank.