The inflation rate in the Kingdom for 2022 is expected to hover around 3.8 per cent, Governor of the Central Bank of Jordan (CBJ) Adel Sharkas said on Tuesday. During a discussion panel organised by the Jordan Strategy Forum titled “Monetary policy in Jordan in light of current international developments,” Sharkas said that the largest influence of the expected inflation rate is a result of the global price hikes for oil and foodstuff, where these two commodities contributed to some 83 per cent of the inflation rate recorded in the first five months of 2022, the Jordan News Agency, Petra, reported.

He added that when excluding the prices of foodstuff and energy of the total inflation rate, the basic inflation rate, which is used for policy drawing, will be less than 1 per cent over the first five months of the year, which means that the inflation resulting from domestic elements is within acceptable rates. Sharkas also stressed that the recent CBJ decisions to increase interest rate on monetary policy tools came to preserve monetary stability in the Kingdom.


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