The annual inflation rate in Jamaica increased to 6 percent in February 2020 from 5.2 percent in the previous month. Prices increased at a faster pace for liquor & tobacco (2.4 percent vs 2.2 percent), clothing & footwear (3 percent vs 2.9 percent), household appliances (3.9 percent vs 3.6 percent), and health services (2.9 percent vs 2.8 percent). In addition, prices rebounded sharply for utilities (9.1 percent vs -2.5 percent). In contrast, prices for transport increased only 0.3 percent following a 0.8 percent increase. On a monthly basis, consumer prices climbed 0.7 percent after jumping 1.1 percent in January.
Inflation Rate in Jamaica averaged 8.76 percent from 2002 until 2020, reaching an all time high of 26.49 percent in August of 2008 and a record low of 1.60 percent in November of 2016. This page provides - Jamaica Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on April of 2020.
Inflation Rate in Jamaica is expected to be 5.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Jamaica to stand at 4.20 in 12 months time. In the long-term, the Jamaica Inflation Rate is projected to trend around 4.00 percent in 2021 and 4.50 percent in 2022, according to our econometric models.