Inflation Rate in Jamaica decreased to 4.80 percent in November from 5.50 percent in October of 2020. source: Statistical Institute of Jamaica

Inflation Rate in Jamaica averaged 8.62 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 January of 2021.

Inflation Rate in Jamaica is expected to be 4.50 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 4.00 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.

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Jamaica Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.80 5.50 26.49 1.60 2002 - 2020 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-01-15 10:15 PM Inflation Rate YoY Dec 6.2% 4.6% 3.7%
2020-02-17 11:00 PM Inflation Rate YoY Jan 5.2% 6.2% 5.8%
2020-03-16 11:00 PM Inflation Rate YoY Feb 6% 5.2% 5.0%
2020-04-15 09:00 PM Inflation Rate YoY Mar 4.8% 6% 5.9%

News Stream
Jamaica Inflation Rate Climbs Further
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.
Jamaica Inflation Slows to 5.2% YoY
The annual inflation rate in Jamaica declined to 5.2 percent in January 2020 from 6.2 percent in the previous month. Prices increased at a slower pace for food & non-alcoholic beverages (9.7 percent vs 10.7 percent in December); education (4.7 percent vs 6.3 percent); transport (0.8 percent vs 0.9 percent); household textiles (2.9 percent vs 3.0 percent), and liquor & tobacco (2.2 percent vs 2.3 percent). Also, prices for electricity, gas & other fuels plunged 7.7 percent after climbing 1.5 percent. In contrast, inflation went up for clothing (2.6 percent vs 2.4 percent) and health services (2.8 percent vs 2.7 percent). On a monthly basis, consumer prices declined 1.1 percent after falling 0.5 percent in December.
Jamaica Inflation Rate Jumps to 5-Year High
The annual inflation rate in Jamaica jumped to 6.2 percent in December 2019 from 4.6 percent in the previous month. It was the highest inflation in 5 years, as prices increased at a faster pace for food & non-alcoholic beverages (10.7 percent vs 8.5 percent in November), nudged mainly by a 41.1 percent surge in vegetable prices (vs 29.1 percent); health services (2.7 percent vs 2.5 percent); recreation & culture (3.1 percent vs 2.9 percent); clothing & footwear (2.6 percent vs 2.5 percent), and household textiles (3.0 percent vs 2.9 percent). Also, prices for communication remained climbing at a 7 percent rate and inflation for transport rebounded 0.9 percent after falling 0.7 percent. On a monthly basis, consumer prices climbed 0.5 percent after rising 1.3 percent in November.

Jamaica Inflation Rate
In Jamaica, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (37.4 percent of total weight). Housing and Utilities accounts for 12.8 percent; Transport for 12.8 percent; Miscellaneous Goods and Services for 8.4 percent; Restaurants and Hotels for 6.2 percent and Furniture, Household Goods and Maintenance for 4.9 percent. Communication ; Recreation and Culture; Clothing and Footwear; Clothing and Footwear; Education and Alcoholic beverages and Tobacco account for the remaining 17.5 percent of total weight.