Governor of the Bank of Jamaica, BOJ, Richard Byles, announced during a morning media briefing a consistent decrease in the core inflation rate. According to him, the annual core inflation rate has been at 5.2 percent since July of this year and has demonstrated a continuous downward trend. Although inflation is predicted to remain slightly above the 4-6 percent range for the next two months, as long as there is no significant increase, it is anticipated to diminish by December 2023 and maintain stability throughout 2024, except for a few months.
Richard Byles, the Central Bank Governor, reported a reduction when comparing it to April 2022. He emphasized that the declines in the primary drivers of inflation have played a crucial role in this trend. Watch the report:Reporter: Kimberly Henry
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