Inflation Grenada 2024
Average inflation: 1.1%
Current Inflation
Inflation is low at 1.1%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in April at 1.5%. The lowest inflation was in October at 0.6%.
- Highest month
- April: 1.5%
- Lowest month
- October: 0.6%
- Difference
- 0.9 percentage points
- Months with data
- 10 of 12
Category Insights
The highest price increase was in Food with an average of 2.8%. The lowest price increase was in Energy with an average of 0.8%.
- Highest increase
- Food: 2.8%
- Lowest increase
- Energy: 0.8%
Historical Context
Current inflation is around the 5-year average of 1.4%.
- 5-year average
- 1.4%
- 10-year average
- 1%
- All-time high (2008)
- 8%
- All-time low (2014)
- -1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +1.6 percentage point.
- Change vs. previous year
- -1.6 percentage points
- Largest monthly swing
- January: -2.7 percentage points
ECB Target
Inflation is 0.9% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 1.1% | -2.7 |
| February | 1.1% | -2.7 |
| March | 1.4% | -2.3 |
| April | 1.5% | -1.9 |
| May | 1.5% | -1.7 |
| June | 1.2% | -1.0 |
| July | 1.2% | -0.5 |
| August | 1.1% | -0.6 |
| September | 0.7% | -1.6 |
| October | 0.6% | -1.9 |
| Average | 1.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.Not all months available yet.