FOREX

Jamaica Gleaner - - BUSI­NESS - Steven.jack­son@glean­erjm.com mcpherse.thomp­son@glean­erjm.com

mil­lion or 6.6 per cent of GDP ex­pe­ri­enced in fis­cal year 2015-16, re­flec­tive of con­tin­ued in­vest­ment in tourism and in­fra­struc­ture.

It is also fore­cast­ing that head­line in­fla­tion will end this cal­en­dar year be­low two per cent be­fore track­ing back up to the lower end of the tar­get range of 4.5 per cent to 6.5 per cent by March 2017.

“This rise in the March 2017 quar­ter is sim­ply the sta­tis­ti­cal con­se­quence of drop­ping from the 12-month se­ries the de­fla­tion that oc­curred in the months of Jan­uary, Fe­bru­ary and March of 2016,” said Wyn­ter. He said ac­tual prices in­creases be­tween now and March are pro­jected to av­er­age around 0.4 per cent per month.

In the in­fla­tion ex­pec­ta­tions sur­vey con­ducted in Au­gust, ex­pected in­fla­tion 12 months ahead de­clined to 3.3 per cent from 3.8 per cent in the May sur­vey, the BOJ gover­nor said.

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