THE Bank of Jamaica (BOJ) says higher energy, transport and food costs have begun feeding into prices elsewhere in the economy, but the central bank is keeping its policy rate at 5.50 per cent as it continues to assess the initial inflation shocks as largely temporary.

Senior Deputy Governor Dr Wayne Robinson said Thursday that BOJ has detected second-round effects in services and processed foods, although the pass-through remains limited.

“Over the last two months, and particularly last month, we have seen some amount of second-round effects. It has started, but to date it’s still limited,” Robinson told BOJ’s Quarterly Monetary Policy Report press conference.