ONSUMER prices ticked higher for a third-straight month in July as the prolonged drought continues to cut supplies of agricultural produce, sending up the cost of dining both at home and at restaurants, but analysts say they don’t expect the Bank of Jamaica (BOJ) to change its stance on interest rates in the near future.

The inflation data the Statistical Institute of Jamaica reported Tuesday showed that in July overall consumer prices rose 6.6 per cent from a year earlier. That was up from a 6.3 per cent annual rise in June and 6.1 per cent in May. The latest figure remained far below last year April’s peak of 11.8 per cent as red-hot inflation eased with the shock to food and energy prices from the war in Ukraine faded. For July alone, consumer prices rose 1.1 per cent, its fastest pace for a single month since October last year.

Leading the price increases is the rising cost of food.

https://www.jamaicaobserver.com/business/july-inflation-ticks-up/