Inflation Rate in Jamaica decreased to 1.20 percent in August from 3.30 percent in July of 2025. This dataset provides - Jamaica Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the average inflation rate in Jamaica was approximately 5.55 percent. Between 1980 and 2024, the figure dropped by around 12.43 percentage points, though the decline followed an uneven course rather than a steady trajectory. The inflation is forecast to decline by about 0.55 percentage points from 2024 to 2030, fluctuating as it trends downward.This indicator measures inflation based upon the year-on-year change in the average consumer price index, expressed in percent. The latter expresses a country's average level of prices based on a typical basket of consumer goods and services.

Inflation in Jamaica dropped to about 3.91 percent in 2019, meaning that a group of goods that cost 100 Jamaican dollars in 2019 would cost 103.91 Jamaican dollars in 2020. This rate dropped from 4.38 percent in 2017 and was forecast to stay around 5 percent in the medium term.

Inflation and growth

After adjusting for inflation, the growth rate in Jamaica’s economy has been relatively slow over the past few years. This is an issue for the island because its gross domestic product per capita indicates a moderate level of development. This suggests that the people would benefit from a higher level of growth. Developmental economists often call this “catch-up” growth, a period of relatively rapid growth that occurs because the economy develops to the level of other countries that have fully realized their economic potential under modern levels of technology and trade.

Effects of inflation

Inflation is often associated with a corresponding increase in unemployment. In developed economies, central bankers worry about the tradeoff between higher inflation and higher unemployment. For Jamaica, more inflation may be the lesser of two evils. Since the Jamaican dollar is not pegged to any other currency, inflation also weakens the currency. For a country so heavily reliant on foreign currencies through tourism, this actually makes Jamaica a more attractive destination because tourists’ U.S. dollars or euros are worth more in relative terms.

In 2024, the annual end-of-period inflation rate of Jamaica stood at about 4.97 percent. Between 1980 and 2024, the figure dropped by approximately 23.73 percentage points, though the decline followed an uneven course rather than a steady trajectory. From 2024 to 2030, the rate will rise by around 0.03 percentage points, showing an overall upward trend with periodic ups and downs.The International Monetary Fund describes this indicator as a measure of inflation based upon the year-on-year percent change in the end-of-period consumer price index (CPI). The said index measure is based upon the cost of a typical basket of goods and services at the end of a given time period.

The Consumer Price Index in Jamaica increased 0.30 percent in August of 2025 over the previous month. This dataset provides - Jamaica Inflation Rate MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Jamaica was 1.21 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 3.27 percent. Compared to a year ago, we see a decrease from the inflation...

Historical dataset showing Jamaica inflation rate by year from 1960 to 2024.

Cost of food in Jamaica increased 0.45 percent in August of 2025 over the same month in the previous year. This dataset provides - Jamaica Food Inflation- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The annual average consumer price index in Jamaica was approximately 138.14 points in 2024. Following a continuous upward trend, the index has risen by around 137.68 points since 1980. Between 2024 and 2030, the index will rise by around 47.09 points, continuing its consistent upward trajectory.As defined by the International Monetary Fund, this indicator measures inflation on the basis of the average consumer price index. This index measure expresses a country's average level of prices based on a typical basket of consumer goods and services during a certain year. Typically a reference year exists for which a value of 100 had been assigned.

Inflation rate (GDP deflator) of Jamaica plummeted by 56.59% from 11.2 % in 2023 to 4.9 % in 2024. Since the 72.34% surge in 2022, inflation rate (GDP deflator) sank by 61.85% in 2024. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

Jamaica JM: Inflation:(GDP) Gross Domestic ProductDeflator data was reported at 6.955 % in 2017. This records an increase from the previous number of 4.595 % for 2016. Jamaica JM: Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 11.321 % from Dec 1967 (Median) to 2017, with 51 observations. The data reached an all-time high of 60.036 % in 1992 and a record low of -4.906 % in 1972. Jamaica JM: Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Jamaica – Table JM.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; Median;

4.9 (%) in 2024. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.

Inflation, monthly percent change in the CPI in Jamaica, August, 2025 The most recent value is 0.28 percent as of August 2025, a decline compared to the previous value of 0.35 percent. Historically, the average for Jamaica from February 2002 to August 2025 is 0.64 percent. The minimum of -1.56 percent was recorded in January 2021, while the maximum of 3.29 percent was reached in October 2004. | TheGlobalEconomy.com

Time series data for the statistic Inflation_Rate and country Jamaica. Indicator Definition:Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.The statistic "Inflation Rate" stands at 5.41 percent as of 12/31/2024, the lowest value since 12/31/2021. Regarding the One-Year-Change of the series, the current value constitutes a decrease of -1.06 percentage points compared to the value the year prior.The 1 year change in percentage points is -1.06.The 3 year change in percentage points is -0.4508.The 5 year change in percentage points is 1.51.The 10 year change in percentage points is -2.86.The Serie's long term average value is 13.04 percent. It's latest available value, on 12/31/2024, is 7.63 percentage points lower, compared to it's long term average value.The Serie's change in percentage points from it's minimum value, on 12/31/1962, to it's latest available value, on 12/31/2024, is +4.00.The Serie's change in percentage points from it's maximum value, on 12/31/1992, to it's latest available value, on 12/31/2024, is -71.88.

Consumer Price Index CPI in Jamaica increased to 142.40 points in August from 142 points in July of 2025. This dataset provides - Jamaica Consumer Price Index Cpi- actual values, historical data, forecast, chart, statistics, economic calendar and news.

This scatter chart displays expense (% of GDP) against inflation (annual %) in Jamaica. The data is about countries per year.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Jamaïque was 1.21 pour cent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 3.27 pour cent. Compared to a year ago, we see a decrease from...

This scatter chart displays inflation (annual %) against median age (year) in Jamaica. The data is about countries per year.

The benchmark interest rate in Jamaica was last recorded at 5.75 percent. This dataset provides - Jamaica Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

This scatter chart displays inflation (annual %) against land area (km²) in Jamaica. The data is about countries per year.