Jamaica's business leaders expect low inflation

Jamaica's business leaders are expecting price increase in the next 12 months to be moderate.

The expectations were outlined in the latest Bank of Jamaica survey on inflation expectations which was conducted in July.

The survey, which serves as a guide to the central bank in charting its policy decisions, shows business leaders expect inflation in the next 12 months to be four per cent.

That is well below the target the central bank has set for inflation during that period. The forecast is that inflation will fall in the range of  5.5% to 7.5% in the current fiscal year.

The medium term target is to reduce price increases in line with that of the country's major trading partners, which should help to reduce the pace at which the Jamaican dollar loses value.