Jamaica’s Finance Minister, Dr. Nigel Clarke, highlights the significant impact of transportation costs on the country’s consumer price index. The recent 19% increase in taxi fares is anticipated to bump up the annual inflation rate, potentially adding two percentage points to October’s 5%. In response, the government plans to alleviate the effects by temporarily reducing fares for JUTC passengers starting January 1, 2024. Regular fares will decrease from 100 to 70, children’s fares from 30 to 25, and pensioners’ fares from 40 to 30.
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