Economic Highlights
February 21, 2024 In January 2024, Jamaica's headline inflation rose to 7.4%, surpassing the central bank's target range of 4.0 to 6.0%. This increase was driven by higher regulated prices, including a recent public transportation fare hike and widespread wage growth. Despite some offsetting factors like reduced transit fares, core inflation (excluding food and
February 20, 2024 The Statistical Institute of Jamaica (STATIN) reported that the unemployment rate for October 2023 was 4.2%, compared to 7.1% in October 2021. The male unemployment rate was 3.1% while the female unemployment rate was 5.4%, down from 5.4% and 9.0% respectively. The number of unemployed persons recorded in October 2023 was 57,300,
February 16, 2024 The Statistical Institute of Jamaica (STATIN) reported that for January 2024, the point-to-point inflation rate was +7.4%; 0.5 percentage points higher than the prior point-to-point inflation rate. However, for the month of January 2024, the inflation rate was -0.1%. The main driver of the monthly decrease (0.1%) was a 0.7% decline
February 16, 2024 According to England’s Office of National Statistics (ONS) the Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 4.2% in the 12 months to January 2024, same as it did in December 2023. The Consumer Prices Index (CPI) rose by 4.0%, same as it did in December 2023. On a
February 12, 2024 Producer prices fall for 16th month in sign of weak demand. China has been beset by falling prices for much of last year China’s consumer prices fell last month at the fastest pace since the global financial crisis, piling pressure on the government to step-up support for a stumbling economic rebound
February 8, 2024 Net International Reserves – January 2024 BOJ has reported that Jamaica's Net International Reserves as at January 31, 2024 stood at US$4,679.09 million, reflecting a decline of US$79.15 million when compared to the US$4,758.24 million reported at the end of December 2023. Foreign Assets totalled US$4,788.52 million, US$80.12 million less than the
February 8, 2024 Employment in Germany returned to its positive trend in the fourth quarter of 2023, according to the Federal Statistical Office (Destatis). After experiencing seasonally adjusted declines in August and September, the number of employed persons rose in October (by 13,000), November (by 24,000) and slightly in December (by 23,000 or 0.1%),
February 8, 2024 Bank of Jamaica (BOJ) Governor Richard Byles has noted a significant reduction in inflation in Jamaica over the past two years, primarily driven by a decline in energy prices. Despite these gains, Byles emphasized that the battle to contain inflation is not yet won. He anticipates that inflation may exceed the target
February 7, 2024 According to the Federal Statistical Office (Destatis), Germany is expected to experience the lowest inflation level since June 2021 (+2.4%). The inflation rate in January 2024 is anticipated to be +2.9% relative to January 2023. The inflation rate in December 2023 was +3.7%. Based on data provided so far, Destatis predicts
February 6, 2024 In January, the U.S. Bureau of Labor Statistics announced a notable increase in total nonfarm payroll employment, rising by 353,000. Despite this growth, the unemployment rate held steady at 3.7 percent. Key sectors experiencing job gains included professional and business services, health care, retail trade, and social assistance. However, there was a
