I know it’s become pretty cliche and cringey to talk about at this point but if you’re under like 25 I cannot stress enough how one time Obama wore a tan suit and people spent a week arguing over whether or not it was demeaning to the Oval Office and they were serious about it.
Landlord: Rent has gone up.
Businesses: That’s a natural part of doing business.
Suppliers: Materials cost more.
Businesses: That’s a natural part of doing business.
Worker: My labour costs more.
Businesses: Whoa, whoa... Let’s not get unreasonable here.
Some comments have said the percentage is low but considering most countries do not grow by more than 5-10% real GDP at most in a year (with Jamaica averaging 1-2%), the figure is significant.
Jamaica’s nominal GDP is J$3.5 trillion so 5% would be around ~$175 billion, yearly.