The Statistical Institute of Jamaica (STATIN) reported that the All-Jamaica Consumer Price Index (CPI) increased from 121.8 in June 2022 to 122.7 in July 2022, Consequently the inflation rate for July 2022 was 0.7%.

Explain ONE fiscal policy that the government can use to reduce the level of inflation and ONE monetary policy the central bank could use to reduce the level of inflation.

Please includes reference