Inflation Jamaica 2003
Average inflation: 10.0%
Current Inflation
Inflation is very high at 10.0%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 13.7%. The lowest inflation was in February at 6.0%.
- Highest month
- December: 13.7%
- Lowest month
- February: 6.0%
- Difference
- 7.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 15.6%. The lowest price increase was in Food with an average of 9.0%.
- Highest increase
- Energy: 15.6%
- Lowest increase
- Food: 9.0%
Historical Context
Current inflation is 2.0% higher than the 5-year average of 8.0%. This approaches the highest level since records began (10.0% in 2003).
- 5-year average
- 8%
- 10-year average
- 8%
- All-time high (2003)
- 10%
- All-time low (2001)
- 6.8%
Trend
Inflation shows an upward trend. Compared to 2002, inflation has risen by +2.9 percentage point.
- Change vs. previous year
- +2.9 percentage points
- Largest monthly swing
- October: +7.4 percentage points
ECB Target
Inflation is 8.0% 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 €110.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 6.4% | -2.5 |
| February | 6.0% | -1.9 |
| March | 6.0% | -1.8 |
| April | 7.2% | -0.6 |
| May | 8.9% | +2.1 |
| June | 10.5% | +4.2 |
| July | 10.4% | +3.8 |
| August | 11.6% | +5.5 |
| September | 12.8% | +6.7 |
| October | 13.5% | +7.4 |
| November | 13.3% | +5.9 |
| December | 13.7% | +6.4 |
| Average | 10.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.