Despite inflation has the potential to veer slightly from the Central Bank’s predicted range between 4 and 6 per cent shortly, however the Bank assures it will steadily return to the targeted range by December.
The Bank of Jamaica, BOJ, is also reporting rapid and expansive growth in the economy. Central Bank Governor Richard Byles is reporting a continued easing of Jamaica’s inflation well within the range of the bank’s target of four to 6 per cent, with headline inflation for April being 5.8 per cent. However, Byles notes the need for caution at least in the short term as a potential uptick is likely. The Governor says as of April key external drivers of headline inflation such as grains, fuel, and shipping prices continue to decline and inflation expectation continues to track downward.
Byles explains interest rates in the United States are also at or near their peak. Watch the report:
