The Bank of Jamaica (BOJ) is reporting that there was deflation of 0.4 per cent in April as declines in the Housing, Water, Electricity and Gas category were partly offset by higher prices for petrol and related products.
The Central Bank notes that moderate inflation was expected in May.
This is due in part to moderate price increases for vegetables and starchy foods as well as transport costs.
Inflation this month is anticipated to mainly reflect increases in the costs of utilities, petrol and the prices of non-processed foods.
As it relates to the outlook for the 2018/19 fiscal year, the BOJ maintains that inflation is expected to remain towards the lower end of the forecast range for the next three quarters before converging towards the midpoint of the forecast range.
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