Fuel prices at the pumps in May 2015.
The calendar year-to-date inflation is only 0.3 percent, while the year over year movement is 1.8 percent. IC Insider is forecasting the full year inflation to end just below 1.5 percent, barring major negative developments. If the forecast is closely achieved, it would be the lowest rate in four and a half decades and will better the 3.66 percent achieved in 2015, the previous lowest rate over the same period. The rate for 2016 would be well below the 4.2 percent forecast by the IMF for the calendar year and the Bank of Jamaica the fiscal year forecast to March 2017 with a target of 4.5 percent to 6.5 percent.
According to Statin, inflation for August was driven mainly by the division ‘Housing, Water, Electricity Gas and Other Fuels’ which recorded the highest movement, 1.8 percent, primarily due to the increase in rates for electricity and water. The group ‘Food and Non-Alcoholic Beverages’ division increased by 0.4 percent and was influenced by the upward movement in the group ‘Vegetables and Starchy Foods’ up by 0.9 percent. The increases were partially offset by a fall in ‘Transport’ by 0.2 percent, due to lower petrol prices on the local market for the month of August.The low level of inflation comes against the back ground of a 5 percent devaluation of the Jamaican dollar versus the US dollar and a tax package earlier in the year that saw an increase in the price of petroleum as well as a fiscal deficit that is close to zero and well below forecast.
Trading in Jamaica’s foreign exchange market saw net inflows climbing by US$6.3 million of all foreign currencies traded as dealers continue to add to the net pool of funds accumulated in the system since the start of July. 
The Canadian dollar buying rate fell $2.51 to $93.70, with dealers buying only C$745,881 and selling C$1,241,166 at an average rate that rose 73 cents to $97.97. The average rate for buying the British Pound jumped $1.04 to $165.63 for the purchase of £1,497,758 while only £632,131 was sold as the rate dropped $3.11 to end at $166.14.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include a jump of $20.50 in the lowest selling rate of the US dollar to end at $124.50. There was a fall of $1.37 in the highest buying rate for the Canadian Dollar to end at $96.18 and a dive of $13.90 in the lowest selling rate to $79.10. Trading in the British Pound resulted in a rise of $1 in the highest buying rate to close at $169, a climb of $1.80 in the highest selling rate to $177.12 and a decline of $3.50 in the lowest selling rate to $169.50. 
Trading in Jamaica’s foreign exchange market saw net inflows climbing by US$8.6 million of all foreign currencies traded as dealers continue to add to the net pool of funds accumulated in the system since the start of July. The central bank is issuing 3 to 7 years US dollar bonds, to mop up excess US dollar, at rates ranging from 2.65 percent to 4.2 percent. 
A total of US$24,604,567 was sold versus US$21,450,365 on Tuesday, with the selling rate easing 1 cent to end at $127.72. The Canadian dollar buying rate fell 59 cents to $96.21, with dealers buying C$2,544,063 and selling C$2,364,789 at an average rate that fell 52 cents to $97.24. The average rate for buying the British Pound declined $1.30 to $164.59 for the purchase of £972,514 while only £295,488 was sold as the rate dropped $3.11 to end at $166.14.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include a decline of $3.49 in the highest selling rate of the US dollar to end at $134.51 and a drop of $19.60 to $104 in the lowest selling rate. There was a fall of $1.45 in the highest buying rate for the Canadian Dollar to end at $97.55. Trading in the British Pound resulted in a fall of $1.10 in the highest buying rate to close at $168, a decline of $2.02 in the highest selling rate to $175.32 and a rise of $1 in the lowest selling rate to $163. 
The Canadian dollar buying rate advanced by $1.51 to $96.80, with dealers buying C$2,470,145 and selling C$2,122,178 at an average rate that fell 51 cents to $97.76. The average rate for buying the British Pound rose 47 cents to $165.89 for the purchase of £1,227,623 while only £1,030,693 was sold as the rate dropped 2 cents to end at $169.25.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Tuesday, include a rise of $3.49 in the highest selling rate of the US dollar to end at $138 and a jump of $19.60 to $123.60 in the lowest selling rate. There was a fall of 74 cents in the highest selling rate for the Canadian Dollar to end at $101.37. Trading in the British Pound resulted in a fall of $1.60 in the highest buying rate to close at $169.10 and a rise of $1 in the lowest selling rate to $162. 
buying rate for the US dollar declined 22 cents to close at $126.87. A total of US$27,926,335 was sold versus just US$25,787,049 on Friday, with the selling rate fell 7 cents to end at $127.65. The Canadian dollar buying rate declined by 66 cents to $95.29, with dealers buying C$2,122,844 and selling C$1,762,850 at an average rate that rose by 42 cents to $98.27. The average rate for buying the British Pound dropped 18 cents to $165.42 for the purchase of £1,495,683 while only £562,174 was sold with the rate rising 72 cents to end at $169.27.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Monday, include a rise of $1.09 in the highest buying rate for the Canadian Dollar to end at $99.50, a fall in the highest selling rate of 92 cents to settle at $102.11, a fall in the lowest selling rate of $1.80 to end at $93. Trading in the British Pound resulted in a fall of 70 cents in the highest buying rate to close at $170.70, a dive of $1.08 in the highest selling rate to $177.12 and a leap of $43.54 in the lowest selling rate to $161. 
Trading in Jamaica’s foreign exchange market saw another day when more purchases of the all foreign exchange currencies exceeded sales, with the net intake on Friday, being US$10 million and with the net US dollar currency intake being US$9 million. The positive net inflows did not stop the rate for selling the US dollar from rising by 11 cents.
The Canadian dollar buying rate declined by 86 cents to $95.95, with dealers buying C$1,510,410 and selling C$1,022,589 at an average rate that declined by 49 cents to $97.85. The average rate for buying the British Pound dropped 39 cents to $165.60 for the purchase of £1,193,309 while only £601,003 was sold with the rate rising 15 cents to end at $169.99. At the end of trading, the selling rate for the Euro, fell $1.24 to close at J$144.88 from Thursday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$139.83 for a rise of $1.75 from the rate on Thursday. The US dollar equivalent of other currencies traded amounts to US$95,963 being bought, while US$178,310, was sold.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Thursday, include a drop of $3.59 in the highest buying rate for the Canadian Dollar to end at $98.41, a rise in the lowest selling rate of $1.80 to settle at $94.80. Trading in the British Pound resulted in a rise of $1.25 in the highest buying rate to close at $171.40 and a big dive of $24.04 in the lowest selling rate to $117.46. 
Trading in Jamaica’s foreign exchange market saw another day when more purchases of the all foreign exchange currencies exceeded sales, with the net intake on Thursday, being US$7 million and with the net US dollar currency being US$6 million. 
The Canadian dollar buying rate rose 21 cents to $96.81, with dealers buying C$1,456,349 and selling C$796,883 at an average rate that declined by 55 cents to $98.34. The average rate for buying the British Pound dropped $1.20 to $165.99 for the purchase of £838,096 while only £470,436 was sold with the rate falling $1.30 to end at $169.84. At the end of trading, the selling rate for the Euro, jumped $3.21 to close at J$146.12 from Wednesday’s rate, according to data from Bank of Jamaica, dealers purchased the European common currency at J$138.03 for a rise of 72 cents from the rate on Wednesday.
The US dollar equivalent of other currencies traded amounts to US$211,530 being bought, while US$208,586, was sold.
Jamaica’s 
Trading in Jamaica’s foreign exchange market saw £6 million or just about US$8 million more sales than purchases of the Pound sterling on Wednesday, pushing the overall trading in the market into recording negative inflows, on a day when the inflows of US dollars currency exceeded sales by nearly US$4 million. 
The Canadian dollar buying rate rose 78 cents to $96.60, with dealers buying C$1,073,476 and selling C$720,284 at an average rate that rose $1.24 to $98.89. The average rate for buying the British Pound rose 74 cents to $167.19 for the purchase of £1,152,715 while an usually large amount of £7,208,359 was sold with the rate that rose 79 cents to end at $171.14.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Wednesday, include a rise of $1 in the highest buying rate for the Canadian Dollar to end at $100.45, a fall in the lowest selling rate of $1.20 to $93. Trading in the British Pound resulted in a 90 cents fall in the highest buying rate to $170.60 and a rise of $1.08 in the highest selling rate to $178.74 and a fall of $1.50 in the lowest selling rate to $162. 
A total of US$61,557,554 was sold versus US$18,292,586 on Monday, with the selling rate rising 1 cent to end at $127.68. The Canadian dollar buying rate rose $1.18 to $95.82, with dealers buying C$1,202,592 and selling C$707,371 at an average rate that fell 38 cents to $97.65. The average rate for buying the British Pound rose $1.24 to $166.45 for the purchase of £2,026,181 while £909,970 was sold with the rate that rose $1.97 to end at $170.35.
Highs & Lows| Notable changes to the highest and lowest traded rates, for the Jamaican dollar in the foreign exchange market on Tuesday, include a rise of 75 cents in the highest buying rate for the Canadian Dollar to $99.45, a rise in the lowest selling rate of $1.20 to $94.20. Trading in the British Pound resulted in a $1.10 rise in the highest buying rate to $171.50 and a rise of $1.50 in the lowest selling rate to $163.50.