I bring good news on the inflation front. Bank of Jamaica’s inflation expectations survey

conducted in July reveals that expected inflation 12-months ahead has fallen to 4.0 per cent.

This compares with the 5.1 per cent that I reported in my last press conference and represents a

new record low in the history of the survey. This is also well below the Bank’s target for the

fiscal year. This is very encouraging indeed and supports our efforts to restrain general price

increases to moderate levels. It will also support us in reaching our medium-term goal of

matching our inflation with inflation in our main trading partners (ie, the US, Trinidad and

Tobago, Canada, the UK, China and the Euro Area).

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