Inflation Grenada 2008
Average inflation: 8.0%
Current Inflation
Inflation is very high at 8.0%, far above the ECB target.
Peak and Trough
The highest inflation was in July at 9.3%. The lowest inflation was in December at 5.2%.
- Highest month
- July: 9.3%
- Lowest month
- December: 5.2%
- Difference
- 4.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 14.4%. The lowest price increase was in Energy with an average of 8.5%.
- Highest increase
- Food: 14.4%
- Lowest increase
- Energy: 8.5%
Historical Context
Current inflation is 3.6% higher than the 5-year average of 4.4%. This approaches the highest level since records began (8.0% in 2008).
- 5-year average
- 4.4%
- 10-year average
- 3.6%
- All-time high (2008)
- 8%
- All-time low (2002)
- 1.1%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +4.1 percentage point.
- Change vs. previous year
- +4.1 percentage points
- Largest monthly swing
- May: +6.6 percentage points
ECB Target
Inflation is 6.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €108.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 7.6% | +6.0 |
| February | 7.7% | +5.8 |
| March | 8.0% | +5.2 |
| April | 8.7% | +6.1 |
| May | 9.1% | +6.6 |
| June | 8.9% | +5.6 |
| July | 9.3% | +6.3 |
| August | 8.6% | +4.3 |
| September | 8.1% | +2.8 |
| October | 8.3% | +3.0 |
| November | 7.1% | +0.9 |
| December | 5.2% | -2.2 |
| Average | 8.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.