Inflation Falls Below Minimum Mark Set by BOJ

The Statistical Institute of Jamaica, STATIN, says the country’s point-to-point inflation rate fell to 3.8 per cent as at the end of June.

Point-to-point inflation is a method of measuring the rate of price increase for a specific period, most commonly the annual rate, by comparing the price level at a given point in time to the price level at the exact same point in the previous year.

It’s the first time since October 2021 that the country’s inflation rate fell below the four to six per cent target band set by the Bank of Jamaica.

This was influenced mainly by the decline in prices of items and commodities in the divisions, food and non-alcoholic beverages, housing, water, electricity, gas and other fuels and restaurant and accommodation services.