Jamaica Hits IMF Inflation Target

Inflation for the past twelve months has increased to 4.3 per cent.

This puts it in line with targets of the Bank of Jamaica and International Monetary Fund, IMF.

That’s according to Minister without portfolio in the Finance Ministry, Fayval Williams.

The country missed the target in July and August, prompting the IMF to demand an explanation and corrective measures because inflation was too low.

According to STATIN’s Consumer Price Index for September, released yesterday, inflation since January rose to 2-point-8 per cent.

The increase was prompted mostly by higher energy costs. The category, “Electricity, Gas and Other Fuels” increased by nearly 8-per cent.

Prices for agricultural produce also increased by about 2-per cent.

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