The annual inflation in Jamaica climbed to 3.4 percent in March 2019 from 2.4 percent in the previous month. Higher inflation was mainly driven by the food and non-alcoholic beverages subgroup (5.3 percent from 3.3 percent in February). Also, inflation for clothing & footwear climbed to 2.3 percent from 1.7 percent; for liquor & tobacco to 1.5 percent from 1.1 percent; and for transport to 1.7 percent from 0.2 percent. In contrast, housing & utilities inflation slowed to 0.2 percent from 1.9 percent. On a monthly basis, consumer prices jumped 0.8 percent after edging up 0.1 percent in the previous month. Inflation Rate in Jamaica averaged 8.99 percent from 2002 until 2019, 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.
Inflation Rate in Jamaica is expected to be 1.80 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 2.70 in 12 months time. In the long-term, the Jamaica Inflation Rate is projected to trend around 4.70 percent in 2020, according to our econometric models.