News
JAM | Nov 24, 2023

Temporary rollback of JUTC fares to have ‘material impact on tempering’ inflation

Vanassa McKenzie

Vanassa McKenzie / Our Today

Reading Time: 2 minutes
Richard Byles, Governor of the Bank of Jamaica

Governor of the Bank of Jamaica (BOJ) Richard Byles says the recently announced fare reduction for passengers who utilise the Jamaica Urban Transit Company (JUTC) will have a positive impact on ‘tempering the potential inflationary measures ‘ of the fare hike for private passenger vehicle (PPV) operators.

“In the context of Tuesday’s announcement by the minister of finance and public service of a temporary two-step reduction in JUTC bus fares, effective January 1 and April 1, 2024, inflation is now projected to generally remain within the target range except for December 2023 and a few months in 2024,” Byles said.

JUTC Rockfort Depot buses pictured in the Half-Way-Tree Transportation Centre in St Andrew. (Photo: jutc.gov.jm)

He was speaking at a quarterly monetary policy press conference on Tuesday, November 22.

The BOJ earlier this week said inflation is projected to rise above the target range between the December 2023 and March 2025 quarters. This was attributed to the recent fare increase for PPV operators.

“The announced fiscal measure will have a material impact on tempering the potential inflationary measures of the PPV fare increases,” he added.

In October, the Government announced a 19 per cent increase for PPVs, which took effect on October 15.

Taxis parked across from the Jamaica Urban Transit Company (JUTC) bus park in Half Way Tree. (Photo: Our Today/ Tamoy Ashman)

Another 16 per cent increase is scheduled to take effect in April of next year.

The Government’s temporary reduction in the fares for JUTC passengers is effective January 1, 2024, to mitigate the effect of the fare hike on the commuting public.

Tags
Bank of Jamaica fare reduction Inflation Jamaica Urban Transit Company Richard Byles

Comments

What To Read Next

News JAM Dec 10, 2025

Vaz confirms critical infrastructure back to normal after hurricane

Reading Time: 3 minutesMinister of Science, Energy, Telecommunications, and Transport Daryl Vaz has provided a sweeping update on the nation’s post-Hurricane Melissa recovery efforts, confirming the restoration of normal operations across critical sectors, including a stable fuel supply at Petrojam, the successful facilitation of over 3,000 flights at the airports, and the reopening of key national transportation corridors.

Vaz said in regards to Petrojam, the country’s fuel supply remains stable and secure, with the Kingston industrial loading rack resuming operation within 48 hours of Hurricane Melissa.
News JAM Dec 10, 2025

Government pledges additional support through the National Energy Poverty Reduction Project

Reading Time: 2 minutesMinister of Science, Energy, Telecommunications, and Transport Daryl Vaz announced that additional support through the National Energy Poverty Reduction Project is underway for persons impacted by Hurricane Melissa.

“I want to speak to the government’s targeted support for vulnerable households. Some of the previously allocated one billion dollars under the National Energy Poverty Reduction Project will be used to assist families severely impacted by Hurricane Melissa.”