In January I warned of the imminent threat of higher prices for businesses and consumers. I was not being particularly prophetic but was simply following the cost tsunami that was developing from the world’s biggest influencer on manufacturing and trade, China. It was only a matter of time before a small, open, and import-dependent economy like Jamaica felt the crashing of the waves.
That reality is now being felt and persons are naturally concerned, after all, the cost is moving up but wages are not moving even close to the same extent – and many persons are nowhere near recovered from the fallout in their personal economy.