The annual inflation in Jamaica edged up to 2.4 percent in February 2019 from 2.3 percent in the previous month. Prices rose further for food and non-alcoholic beverages (3.3 percent from 2.1 percent in January); recreation and culture (1.7 percent from 1.6 percent); and health (1.5 percent from 1.4 percent). In contrast, cost eased for housing and utilities (1.9 percent from 4.3 percent); transport (0.2 percent from 0.5 percent); restaurants and hotels (1.4 percent from 1.5 percent) and miscellaneous goods and services (1.8 percent form 2.5 percent). On a monthly basis, consumer prices went up 0.1 percent after declining 0.2 percent in the previous month. Inflation Rate in Jamaica averaged 9.01 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 2.10 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 2.40 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.