Jamaica Records 4.4 Per Cent Inflation In April To June Quarter – Bank of Jamaica

Posted by epocjamaica | Aug 18, 2017 | news | 0

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.

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epocjamaica

The Economic Programme Oversight Committee (EPOC) was established in 2013 to monitor the implementation of Jamaica’s economic reform measures under its agreement with the International Monetary Fund (IMF). The committee comprises 11 persons from the private and public sectors, and civil society. They receive and assess information from the Government of Jamaica (GOJ) to track the progress of the targets under the three-year Precautionary Stand-By Arrangement (PSBA) which was signed in 2016. Visit: https://epocjamaica.com/about to learn more.