Opposition express alarm at increasing inflation levels
Published:Thursday | January 24, 2008 | 1:59 PM
The Opposition Spokesman on Finance and Planning, Dr. Omar Davies has expressed alarm at the level of inflation for December last year.
The Statistical Institute of Jamaica (STATIN) has reported that prices increased by 2.5 percent for that month, which brings the total level of increase for 2007 to 16.8 percent.
According to Dr. Davies, inflation for the months of November and December alone was equal to the amount recorded for all of 2006.
Dr. Davis is distressed by the price increase in the Food and Non-alcoholic Beverages subcategory, which went up by almost a quarter. Since the majority of a poor persons income is spent on food and non-alcoholic beverages.
The Opposition Spokesman on Finance is insisting that the government should not go ahead with the proposal to use $500 million to subsidise food prices.
Dr. Davis is suggesting an increase in the national minimum wage to $4,000 a week.
On Tuesday, the government announced that the national minimum wage would be increased from $3,200 to $3,700 on Monday January 28.