Inflation Rate in Jamaica increased to 5.30 percent in April from 5 percent in March of 2025. This dataset provides - Jamaica Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 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.

The Consumer Price Index in Jamaica increased 0.40 percent in May of 2025 over the previous month. This dataset provides - Jamaica Inflation Rate MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Graph and download economic data for Inflation, consumer prices for Jamaica (FPCPITOTLZGJAM) from 1960 to 2024 about Jamaica, consumer, CPI, inflation, price index, indexes, and price.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Jamaica was 5.19 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 5.29 percent. Compared to a year ago, we see a decrease from the inflation...

Cost of food in Jamaica increased 6.46 percent in May 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.

Inflation, consumer prices (annual %) in Jamaica was reported at 5.4119 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Jamaica - Inflation, consumer prices (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

Jamaica JM: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series 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: Linked Series data is updated yearly, averaging 10.199 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 60.036 % in 1992 and a record low of 4.595 % in 2016. Jamaica JM: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series 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: 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. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

Jamaica: Inflation forecast: The latest value from 2030 is 5 percent, unchanged from 5 percent in 2029. In comparison, the world average is 3.65 percent, based on data from 182 countries. Historically, the average for Jamaica from 1980 to 2030 is 13.03 percent. The minimum value, 1.73 percent, was reached in 2016 while the maximum of 80.19 percent was recorded in 1991.

Inflation, GDP deflator: linked series (annual %) in Jamaica was reported at 11.69 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Jamaica - Inflation, GDP deflator: linked series (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

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 slumped by 8.68% from 12.8 % in 2022 to 11.7 % in 2023. Since the 114.36% surge in 2021, inflation rate (GDP deflator) rocketed by 57.37% in 2023. 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, May, 2025 The most recent value is 0.42 percent as of May 2025, an increase compared to the previous value of -0.35 percent. Historically, the average for Jamaica from February 2002 to May 2025 is 0.65 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

This line chart displays inflation (annual %) by date using the aggregation median in Jamaica. The data is about countries per year.

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

This scatter chart displays inflation (annual %) against fertility rate (births per woman) in Jamaica. The data is about countries per year.

About this dataset

Context

The dataset illustrates the median household income in Jamaica town, spanning the years from 2010 to 2023, with all figures adjusted to 2023 inflation-adjusted dollars. Based on the latest 2019-2023 5-Year Estimates from the American Community Survey, it displays how income varied over the last decade. The dataset can be utilized to gain insights into median household income trends and explore income variations.

Key observations:

From 2010 to 2023, the median household income for Jamaica town increased by $7,897 (12.44%), as per the American Community Survey estimates. In comparison, median household income for the United States increased by $5,602 (7.68%) between 2010 and 2023.

Analyzing the trend in median household income between the years 2010 and 2023, spanning 13 annual cycles, we observed that median household income, when adjusted for 2023 inflation using the Consumer Price Index retroactive series (R-CPI-U-RS), experienced growth year by year for 9 years and declined for 4 years.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates. All incomes have been adjusting for inflation and are presented in 2022-inflation-adjusted dollars.

Years for which data is available:

• 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 0223

Variables / Data Columns

• Year: This column presents the data year from 2010 to 2023
• Median Household Income: Median household income, in 2023 inflation-adjusted dollars for the specific year
• YOY Change($): Change in median household income between the current and the previous year, in 2023 inflation-adjusted dollars
• YOY Change(%): Percent change in median household income between current and the previous year

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Jamaica town median household income. You can refer the same here

This scatter chart displays individuals using the Internet (% of population) against inflation (annual %) in Jamaica. The data is about countries per year.