Inflation returned to a new high in January, hitting 9.7 per cent as food prices climbed and floating further away from the target range set by the central bank.

With this outcome, it’s likely that the Bank of Jamaica’s Monetary Policy Committee will decide to raise interest rates again for a fourth time, at its next deliberations, which are due to be published on Friday, February 18.

The annual inflation rate previously climbed as high as 8.5 per cent in the latter part of last year, but fell back to 7.3 per cent as at December.

https://jamaica-gleaner.com/article/business/20220216/inflation-spikes-new-high