Inflation Grenada 2004
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in July at 2.7%. The lowest inflation was in February at 1.5%.
- Highest month
- July: 2.7%
- Lowest month
- February: 1.5%
- Difference
- 1.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 3.3%. The lowest price increase was in Energy with an average of 2.4%.
- Highest increase
- Food: 3.3%
- Lowest increase
- Energy: 2.4%
Historical Context
Current inflation is around the 5-year average of 1.9%. This approaches the highest level since records began (2.3% in 2004).
- 5-year average
- 1.9%
- 10-year average
- 1.9%
- All-time high (2004)
- 2.3%
- All-time low (2002)
- 1.1%
Trend
Inflation shows an upward trend. Compared to 2003, inflation has risen by +0.1 percentage point.
- Change vs. previous year
- +0.1 percentage points
- Largest monthly swing
- November: +1.5 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 1.6% | -0.9 |
| February | 1.5% | -1.4 |
| March | 2.2% | -0.8 |
| April | 2.4% | -0.7 |
| May | 2.2% | -1.2 |
| June | 2.5% | +0.6 |
| July | 2.7% | +0.8 |
| August | 2.6% | +0.5 |
| September | 2.2% | +1.0 |
| October | 2.6% | +1.4 |
| November | 2.7% | +1.5 |
| December | 2.5% | +0.9 |
| Average | 2.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.