Current inflation Grenada 0.6%
October 2024
Current Inflation
Inflation is low at 1.1%, below the ECB target of 2%.
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.
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 EC$100 this year will cost approximately EC$101.10 next year at this inflation rate.
Last 12 months
5-year trend
Statistics
- This year (avg.)
- 1.1%
- Last year
- 2.7%
- 5-year average
- 1.1%
- All-time high (2008)
- 8%