The annual inflation rate in Jamaica fell to 3.4 percent in September 2019 from 4.1 percent in the previous month. It was the lowest inflation rate in six months, as prices slowed for food & non-alcoholic beverages (6.7 percent vs 7 percent in August); and clothing & footwear (2.4 percent vs 2.6 percent). Also, cost dropped for housing & utilities (-3.1 percent vs 1 percent); and transport (-1.3 percent vs a flat reading). Meanwhile, prices advanced further for miscellaneous goods & services (2.8 percent vs 2.7 percent); recreation & culture (2.7 percent vs 1.1 percent); and health (2.5 percent vs 2.4 percent). Additionally, inflation was steady for restaurants & hotels (at 1.6 percent); furnishings & household equipment (at 1.9 percent); and alcoholic beverages & tobacco (at 2.4 percent). On a monthly basis, consumer prices went up 0.4 percent, easing from a 0.8 percent gain in the prior month. Inflation Rate in Jamaica averaged 8.85 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 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 4.40 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.