Bank of Jamaica announce inflation rate decrease
The Central Bank is reporting that Jamaica’s inflation rate is decreasing. Data from the Statistical Institute of Jamaica (STATIN) shows that the rate, which peaked at 11.8 per cent in April 2022, fell to 7.8 per cent in February 2023.
Speaking during a Jamaica Information Service (JIS) ‘Think Tank’, Bank of Jamaica (BOJ) senior deputy governor, Dr Wayne Robinson, said this has resulted from the BOJ’s monetary policy actions as well as lower imported commodity prices and indicated: “We actually responded very swiftly, early and decisively to the increase… that we’ve been seeing… which was actually spurred by rising inflation globally”.