The annual inflation rate in Jamaica further eased to 5.6% in March 2024, from 6.3% in the previous month. This marked the lowest reading since October 2023, as prices softened for food & non-alcoholic beverages (4.8% vs 7.7% in February), alcoholic beverages & tobacco (4.4% vs 4.5%), clothing & footwear (3.7% vs 3.9%), furnishings, household equipment & maintenance (9.7% vs 10%), information & communication (5.3% vs 5.7%), recreation, sport & culture (4.9% vs 5.4%), restaurants & accommodation services (7.1% vs 8.2%), and personal care social protection, miscellaneous goods & services (4.1% vs 4.2%). Meanwhile, costs increased for housing & utilities (3% vs 0.2%) and transport (10.1% vs 9.6%), while remained steady for health (at 4.2%) and education (at 15.7%). Monthly, the CPI fell by 0.5% in March, following a 0.6% drop in February. source: Statistical Institute of Jamaica

Inflation Rate in Jamaica decreased to 5.60 percent in March from 6.20 percent in February of 2024. Inflation Rate in Jamaica averaged 8.44 percent from 2002 until 2024, 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 May of 2024.

Inflation Rate in Jamaica decreased to 5.60 percent in March from 6.20 percent in February of 2024. Inflation Rate in Jamaica is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Inflation Rate is projected to trend around 2.50 percent in 2025 and 2.40 percent in 2026, according to our econometric models.



Related Last Previous Unit Reference
Consumer Price Index CPI 135.10 135.80 points Mar 2024
CPI Housing Utilities 124.70 123.60 points Mar 2024
CPI Transportation 130.00 129.70 points Mar 2024
Food Inflation 4.85 7.66 percent Mar 2024
Inflation Rate YoY 5.60 6.20 percent Mar 2024
Inflation Rate MoM -0.50 -0.60 percent Mar 2024

Jamaica Inflation Rate
In Jamaica, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (37 percent of total weight). Housing and Utilities account for 13 percent; Transport for 13 percent; Miscellaneous Goods and Services for 8 percent; Restaurants and Hotels for 6 percent and Furniture, Household Goods and Maintenance for 5 percent. Communication; Recreation and Culture; Clothing and Footwear; Clothing and Footwear; Education and Alcoholic beverages and Tobacco account for the remaining 18 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
5.60 6.20 26.49 1.60 2002 - 2024 percent Monthly
2019=100