The Economic Programme Oversight Committee (EPOC) said the rate of inflation will reach a record high of 11 percent in the next 10 to 12 months.

Chairman of Epoc Keith Duncan made the announcement while speaking at a press briefing on Tuesday.

According to Mr Duncan, Jamaica currently has a 10-point-7 percent inflation rate, and this is projected to further increase, pushing the rate outside of the bank of Jamaica’s 4 – 6 percent target range.

Mr Duncan said the monetary policy committee recently projected that the inflation will remain outside the target range for a longer period of time.