Within the face of a relentless surge within the costs of important items and providers, Jamaican customers are experiencing a rising monetary pressure.
The newest quarterly Enterprise and Shopper Confidence Survey has unveiled the statistics, portray a vivid image of the financial challenges confronted by Jamaicans within the closing quarter of 2023.
In accordance with the survey’s findings, 76 per cent of respondents reported a considerable enhance within the costs of things usually bought throughout the fourth quarter of 2023, in comparison with the identical interval within the earlier yr.
However, 17 per cent of respondents famous a extra reasonable uptick in the price of important items and providers.
Price stability stays elusive for six per cent
For a small fraction of customers, comprising 6 per cent of respondents, the costs of things within the fourth quarter of 2023 remained in line with the earlier yr.
Notably, just one per cent of these surveyed reported experiencing a reasonable lower in costs, whereas nobody reported a major lower.
Insights from Don Anderson
The survey, performed by Don Anderson, Head of Market Analysis Restricted, on behalf of the Jamaica Chamber of Commerce, has offered insights into the struggles of customers.
Throughout the unveiling of the Jamaica Chamber of Commerce Enterprise and Shopper Confidence Indices, Mr. Anderson emphasised the gravity of the scenario, stating that the takeaway is that the customers have been constantly reporting important will increase in costs for important gadgets, that are important for sustaining their family and sustaining their common disposable revenue over the previous yr.
