Macroeconomic Forecast Jamaica

BMI View: Consumer price inflation (CPI) in Jamaica ticked down to 11.2% y-o-y in October from 11.3% and 12.6% in September and August respectively. Given that CPI appears to be on a firmly downward trend (from the 14.3% y-o-y heights reached in April) and that the medium-term outlook for both domestic and external demand is relatively subdued, we have revised both our end-2010 and end-2011 inflation forecasts to the upside. We are now projecting CPI to come in at 11.0% y-o-y by end-2010 and 11.0% by end-2011 from 14.0% and 12% previously.

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