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Central Bank of Jamaica records clips in reggae style to tell the public about inflation

“Reggae music is the heartbeat of the country, and low and stable inflation is the heartbeat of the economy.”

In another video, the girl sings a song with the words “high inflation is not the enemy if we control it. If it is too high, people will start screaming for help. And if it is too low, the country will not develop. ”

In a video published on December 31, the bank explains that “predictable, stable and low inflation” helps to develop the economy.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””][It is necessary] to maintain inflation rates low and stable, so that consumers can buy more goods for their money and invest in economic growth;[/perfectpullquote] [perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Predictable, stable and low inflation is the path to development.[/perfectpullquote]

 

In another video, a man named Francis explains how inflation works. He says that inflation is an important phenomenon: “It affects everything. Inflation determines what your money can do. It doesn’t matter if you run the state, own a business, or just run a household, you cannot make long-term plans if inflation is not low, unstable and unpredictable.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]We need a little inflation to stimulate production and growth [of the economy]. But inflation, like your pressure, can be both high and low. Inflation is the real heartbeat of the economy.[/perfectpullquote]
the hero of the movie named Francis


Another video reads: “Low and stable inflation for the economy is the same as the bass line for reggae music.”

According to Quartz, the author of the idea of ​​creating these videos was Tony Morrison, director of public relations with the bank. According to him, the videos and songs from them were broadcast on radio and on television, and only after that they began to distribute them on the Internet.

Morrison explained that the Jamaican population understands why low inflation is good, but does not understand why too low is bad.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]When we aim at inflation at 3 or 2%, we need to explain why our goal is not 1 or 0%.[/perfectpullquote]
Tony morrison
Director of Public Relations, Bank of Jamaica

Quartz noted that the average inflation in the country is 2.5%. The official goal of the Bank of Jamaica is between 4 and 6%.

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