BOJ warns inflation may breach target as Jamaica monitors fuel, security and recovery issues

The Bank of Jamaica says inflation is likely to climb above its 4 to 6 per cent target band in the coming months, with higher international oil prices and conflict in the Middle East pushing up energy and transport costs. Governor Richard Byles made the projection at the central bank’s quarterly media briefing on Tuesday, warning that the June to September 2026 period could see inflation move past the upper end of the range.

The bank’s Monetary Policy Committee has kept the policy rate at 5.5 per cent per annum and says it will continue actions to support stability in the foreign exchange market. Byles also pointed to possible pressure on farm prices from El Niño-related weather conditions, including hotter temperatures and drought risk.

Prime Minister Dr Andrew Holness said the Government is trying to limit the effect of expensive fuel on households and businesses. Following discussions with Petrojam and the finance and energy ministries, he said the state has been cautious about fuel-market instability, but warned that absorbing increases cannot continue indefinitely. He urged Jamaicans to reduce energy use where possible.

Holness also called for the Jamaica Constabulary Force to review how police assist injured persons and handle the bodies of people killed at crime scenes. Speaking at the graduation of the 91st cohort of the JCF Staff and Junior Command Course, he said the matter would go before the National Security Council and should form part of the force’s wider transformation.

In Kingston, the Ministry of Labour and Social Security’s North Street building was renamed for former Prime Minister Portia Simpson Miller, who also previously served as labour minister. Holness said further honours are planned, including a bust, a documentary, the naming of the Three Miles overpass and the Western Children and Adolescent Hospital in St James.

In St Elizabeth, more than 3,000 coconut seedlings were issued to farmers replacing trees lost during Hurricane Melissa. The Ministry of Agriculture and the Coconut Industry Board led the effort, with Agriculture Minister Floyd Green saying technical support would follow the distribution. In Kingston, the Denham Town Golden Age Home also benefited from Labour Day painting and rehabilitation work.