Inflation Barbados 2024
Average inflation: -0.2%
Current Inflation
There is deflation with consumer prices declining by 0.2%.
Peak and Trough
The highest inflation was in January at 4.8%. The lowest inflation was in November at -2.3%.
- Highest month
- January: 4.8%
- Lowest month
- November: -2.3%
- Difference
- 7.1 percentage points
- Months with data
- 11 of 12
Category Insights
The highest price increase was in Food with an average of 3.8%. The lowest price increase was in Energy with an average of -0.7%.
- Highest increase
- Food: 3.8%
- Lowest increase
- Energy: -0.7%
Historical Context
Current inflation is 5.3% lower than the 5-year average of 5.1%.
- 5-year average
- 5.1%
- 10-year average
- 3.8%
- All-time high (2023)
- 9.9%
- All-time low (2015)
- -1.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +10.1 percentage point.
- Change vs. previous year
- -10.1 percentage points
- Largest monthly swing
- September: -12.8 percentage points
ECB Target
Inflation is 2.2% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
Due to deflation, purchasing power increases. Money becomes more valuable instead of less.
What you could buy for €100 this year will cost approximately €99.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 4.8% | -7.4 |
| February | 1.5% | -11.2 |
| March | 0.3% | -11.6 |
| April | 0.8% | -9.6 |
| May | -0.9% | -11.2 |
| June | -0.7% | -10.7 |
| July | -1.1% | -10.5 |
| August | -1.6% | -12.7 |
| September | -1.7% | -12.8 |
| October | -1.8% | -11.3 |
| November | -2.3% | -7.9 |
| Average | -0.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.Not all months available yet.