THE Bank of Jamaica (BOJ), in its new remittance report, indicates that for the January to July 2022 period remittance inflows to Jamaica amounted to US$1,959.4 million.

Inflows are expected to track pass the US$2-billion mark in the August report pending.

Visitors travelling with cash instead of using remittance channels were identified as a cause of slowing inflows.

In a regional comparison, it was noted, nevertheless, that that this outturn represented a decline of 3.4 per cent as opposed to Mexico, which registered growth of 16.5 per cent, while El Salvador registered growth of 3.1 per cent for the period July 2022.