Inflation Increased Slightly in March – STATIN

The country’s point-to-point inflation rate rose slightly in the month of March.

Data from the Statistical Institute of Jamaica, STATIN, suggests point-to-point inflation for the period was five percent.

This is up from 4.4 percent the month before.

This was influenced mainly by the point-to-point inflation rate for the divisions: Food and Non-Alcoholic Beverages, ‘Housing, Water, Electricity, Gas and Other Fuels’ and ‘Restaurants and Accommodation Services.

It’s the first increase in the last three months.

It also represents the highest point-to-point inflation in the last six months.

Despite the increase, the rate remains within the Bank of Jamaica’s target range of four to six percent.

The BOJ in recent months has halted its favourable monetary policy of repeatedly lowering interest rates due to volatility in global trade.

It’s uncertain how the Central Bank will react if inflation again trends upwards.