Inflation in Jamaica soars to an 11-year high – CARICOM Business

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The point-to-point inflation rate (Feb. 2021 – Feb. 2022) in Jamaica has attained an 11-year high of 10.7%.

According to the Statistical Institute of Jamaica (STATIN) this was influenced mainly by the inflation rate for the divisions: ‘Food & Non-Alcoholic Beverages’ (12.8%), ‘Housing, Water, Electricity, Gas and Other Fuels’ (10.4%) and Transport’ (14.2%).

The fiscal year-to-date inflation rate was 10.1%. STATIN also reports that the All-Jamaica Consumer Price Index increased by 0.8% for February 2022. The BOJ has hiked interest rates 4 times since September 2021 to 4% as it seeks to contain inflation within the 4 – 6 % range.

Extract from the CARICOM BUSINESS Newsletter, Vol 5 No. 12

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