The Statistical Institute of Jamaica (Statin) is reporting that as of September 2023, the inflation rate was 0.5 percent.

Director General of Statin, Carol Coy gave the update at a press briefing, on Wednesday.

She further noted, the point-to-point consumer price index inflation rate, as 5.9 percent, as of september 2023.

Ms coy said the food and beverage service sector was the main contributor.

Meantime, in response to Statin’s report, finance minister Dr Nigel Clarke pointed out that inflation has again re-entered the target 4 to 6 percent range.

Dr. Clarke said it may be too early to declare victory over this period of inflation but its noticeable that the government’s policy reform that created an independent central bank, is steadily achieving its stated aim