The annual inflation in Jamaica climbed to 4.0 percent in April 2019 from 3.4 percent in the previous month. Prices rose further for food & non-alcoholic beverages (5.8 percent from 5.3 percent in March); housing & utilities (3.1 percent from 0.2 percent); furnishings & household equipment (4.7 percent from 4.6 percent); miscellaneous goods & services (2.2 percent from 2.1 percent) and alcoholic beverages & tobacco (1.8 percent from 1.5 percent). On the other hand, cost eased for transport (1.2 percent from 1.7 percent); and inflation was steady for clothing & footwear (at 2.3 percent, the same as in March); restaurants & hotels (at 1.6 percent); recreation & culture (at 1.7 percent); health (at 1.6 percent) and education (at 4.2 percent). On a monthly basis, consumer prices edged up 0.1 percent slowing from a 0.8 percent gain in the previous month. Inflation Rate in Jamaica averaged 8.99 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 3.50 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 5.00 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.