From The Rio Times · Lachlan Williams · · 1m 10s
Jamaica Inflation Hits 8.6% in September
Jamaica's inflation soars to 8.6% in September, exceeding central bank targets after Hurricane Melissa.
In brief
Jamaica's inflation soars to 8.6% in September, exceeding central bank targets after Hurricane Melissa. Jamaica's annual inflation rose to 8.6% in September, the highest since December 2022, as food and fuel prices surge. Originally reported by The Rio Times.
Jamaica Inflation Rises
Jamaica's annual inflation rose to 8.6% in September, the highest since December 2022.
Inflation Exceeds Target
The rate is well above the Bank of Jamaica's 4% to 6% target range.
Food and Fuel Prices Surge
Food prices rose 12.4% over the year, and fuel for personal transport increased 24.8%.
Hurricane Melissa Impact
Analyst Damien King linked food price rises to farm shortfalls after Hurricane Melissa.
Central Bank Policy Rate
The Bank of Jamaica holds its policy rate at 6.00% with the next decision on Wednesday, 18 November.
US Visitors Affected
US visitors face higher food and transport costs as Jamaican fuel prices follow US Gulf Coast benchmarks.
Price Impact on Families
A food bill of JMD 10,000 (US$63) a year ago now costs JMD 11,240 (US$71).
What Comes Next
The Bank of Jamaica will decide on rates on Wednesday, 18 November, following the October inflation figure.
The essence
Jamaica's annual inflation rose to 8.6% in September, the highest since December 2022, as food and fuel prices surge.
