Governor of the Bank of Jamaica (BOJ) Brian Wynter says the country recorded an inflation rate of 4.4 per cent during the April to June quarter.
Wynter says this was slightly above the 4.1 per cent recorded in the previous quarter.
He says the rate for the quarter is on track to fall within the Bank’s target range of four to six per cent for the 2017-18 financial year.
The central bank governor told reporters at a BOJ quarterly press briefing yesterday that the uptick in inflation was as a result of the impact of rains and the government’s tax package.
Wynter said the overall effect on food prices from the May rains is expected to continue to be felt for a few more months before normalizing before the end of the current fiscal period.