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A Bank of Jamaica survey shows that the country's business leaders are bracing for higher operating expenses over the next twelve month
The Survey of Businesses' Inflation Expectations for February shows the respondents indicated they expect the largest increase in production expenses to come from higher cost for stock replacement.
The cost of utilities was expected to be the second largest contributor to higher production costs, followed by raw materials.
Wages and salaries continued to be the input cost least expected to increase over the next 12 months.
The Survey captures the perceptions of chief executive officers, managing directors and financial controllers about the future movement of prices, current and future business conditions as well as the expected rate of increase in wages.
Business conditions
The survey also shows a moderation in the perception of present and future business conditions, among respondents, relative to the previous survey.
The survey also shows a moderation in the perception of present and future business conditions, among respondents, relative to the previous survey.
The index of present business conditions moderated to 162.6, relative to the previous survey outturn of 164.9, which was the highest level since December 2011.
Similarly, the index of future business conditions moderated to 152.2, relative to 157.0 in the previous survey.
Notwithstanding, the perceptions of present and future business conditions continue to display upward trends, which have been evident since April 2013.
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