Central Bank of Jamaica - Annual Report 2004

The Central Bank of Jamaica has published its Annual Report for the year ended 2004. Core or underlying inflation continued to trend downwards in line with the policy objective despite a shock to headline inflation in the latter half of the year, the report said.

"In this regard, core inflation slowed to 5.5 per cent in 2004, compared to 8.1 per cent in 2003. The upturn in headline inflation was a direct result of the effect of an increase in world oil prices as well as a tropical storm in August

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