Bank of Jamaica Governor Richard Byles says inflation is forecast to trend upwards over the June to September quarter.

Governor Byles says this is due to the rise in international oil prices which is expected to place pressure on electricity costs in Jamaica.

He says domestic gas prices could increase further which will impact transportation.

He notes that the rate is expected to trend upward beyond the 6% upper limit of the Bank’s target range.

He explains that the second round of price increases will include routine house maintenance and the prices of food and personal care items.

Governor Byles says the extent of the breach will depend on the extent and duration of the Middle East conflict.

However, he notes that when international tensions ease and prices return to normal levels, headline inflation in Jamaica is forecast to gradually moderate and return to the Bank’s target range.

He was speaking at the BOJ’s quarterly monetary press conference this morning