Global Shipping Cost May Continue to Skyrocket as Holiday Season Approaches

As the world emerges from the pandemic-induced recession, surging demand and supply chain bottlenecks have resulted in a sharp
increase in inflation in most countries, including Jamaica. As a result, many people, including business leaders, asset managers, and central bankers, are worried. Locally, one major manufacturer recently warned about future price increases, and the Bank of Jamaica’s
Monetary Policy Committee has indicated that they are willing to consider raising the policy rate at the next policy meeting in September to combat what is expected to be transitory inflation.

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