Falling electricity rates pushed Jamaica’s inflation rate back into negative territory in April, offering consumers some relief from rising food and fuel costs and strengthening expectations that inflation could remain within the Bank of Jamaica’s target range in the near term.

Data released Friday by the Statistical Institute of Jamaica (STATIN) showed that the All Jamaica Consumer Price Index declined 0.3 per cent in April, reversing the 0.3 per cent increase recorded in March, as lower electricity charges more than offset higher prices for agricultural produce and petrol.

The decline was driven mainly by a 4.3 per cent fall in the index for ‘Housing, Water, Electricity, Gas and Other Fuels’, following a 12.5 per cent reduction in the ‘Electricity, Gas and Other Fuels’ group.