Inflation Jamaica 2008
Average inflation: 22.0%
Current Inflation
Inflation is very high at 22.0%, far above the ECB target.
Peak and Trough
The highest inflation was in August at 26.3%. The lowest inflation was in December at 17.0%.
- Highest month
- August: 26.3%
- Lowest month
- December: 17.0%
- Difference
- 9.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 30.8%. The lowest price increase was in Energy with an average of 29.0%.
- Highest increase
- Food: 30.8%
- Lowest increase
- Energy: 29.0%
Historical Context
Current inflation is 8.3% higher than the 5-year average of 13.7%. This approaches the highest level since records began (22.0% in 2008).
- 5-year average
- 13.7%
- 10-year average
- 11.2%
- All-time high (2008)
- 22%
- All-time low (2001)
- 6.8%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +12.8 percentage point.
- Change vs. previous year
- +12.8 percentage points
- Largest monthly swing
- July: +18.6 percentage points
ECB Target
Inflation is 20.0% 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 €122.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 18.1% | +11.5 |
| February | 19.8% | +12.9 |
| March | 19.8% | +11.5 |
| April | 21.3% | +14.2 |
| May | 22.6% | +14.5 |
| June | 24.1% | +16.6 |
| July | 26.0% | +18.6 |
| August | 26.3% | +18.1 |
| September | 25.4% | +16.5 |
| October | 23.9% | +13.2 |
| November | 20.0% | +5.9 |
| December | 17.0% | +0.3 |
| Average | 22.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.