‘We Are On Target’ – Fayval Williams Says Of Inflation Rate

Minister without Portfolio in the Ministry of Finance and the Public Service, Fayval Williams, reported that the island’s inflation rate stands at 4.3%.

Speaking at a post-Cabinet press conference at the Office of the Prime Minister (OPM) of Wednesday, October 17, she said that the point-to-point reference of 4.3% reflects the increase between the September 2017 – September 2018 period; which also represents the target set by the central Bank of Jamaica (BOJ).

According to information from the Statistical Institute of Jamaica (STATIN), as measured by the All-Jamaica Consumer Price Index, there was a 1.1% increase in inflation in the month of September 2018; inflation for the year to date (January to September) was 2.8%; inflation for the fiscal year to date (April to September) was 3%; an inflation for the period September 2017 – September 2018 was 4.3%.

“The important figure is the point-to-point 4.3% and this falls in the 4%-6% rate that the Bank of Jamaica is targeting,” Williams explained.

Gavin Riley

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