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.
Inflation Rate in Jamaica averaged 8.79 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. This page provides - Jamaica Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Inflation Rate in Jamaica is expected to be 4.00 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 4.70 percent in 2020, according to our econometric models.