BOJ: Inflation Could Spike Amid Ongoing Drought

Deputy Governor of the Bank of Jamaica, BOJ, Robert Stennett, believes the ongoing drought could again drive inflation upwards.

Stennett says the bank will be closely monitoring agricultural prices over the coming months as it adjusts its inflation forecast.

The Statistical Institute Of Jamaica, STATIN on Monday announced that Jamaica’s point-to-point inflation rate fell to 5.6 per cent for the month of March. The reduction stems from a fall in agricultural prices.

While welcoming the fall in inflation, the Bank of Jamaica says it will monitor the situation carefully.

Economist, Keenan Falconer, similarly says the country may still have periods where inflation trends upwards.

Keenan Falconer, economist. He was speaking on Nationwide at Five on Tuesday.