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Slight uptick expected in inflation for this year

Business operators are expecting a slight uptick in inflation this year.
   
According to June's Inflation Expectations Survey, conducted by STATIN on behalf  of  the Bank of  Jamaica, business operators expected inflation of  4.3 per cent for the calendar year, higher than the 3.9 per cent recorded in the previous survey.
   
The expected inflation 12 months ahead was also higher relative to the previous survey.  
   
The perception of  inflation control declined in the June survey.
   
The Bank of  Jamaica says this reflected increases in the number of  respondents who were dissatisfied with the authorities’ control of  inflation.
   
There was ALSO an increase in the number of  respondents who were neither satisfied nor dissatisfied.
                                             
Meanwhile, the latest survey respondents moderated their view of  the pace of  currency depreciation.
   
Businesses expect the exchange rate to depreciate by 1.7 per cent over the next three months which was marginally lower than the 1.9 per cent expected in the May survey. 
   
For the 6-month and 12-month period there were expectations of  depreciation of  2.9 per cent and 4.2 per cent, respectively, compared to depreciations of  3 per cent and 4.3 per cent in the May survey.
                                                    


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