Inflation in Jamaica
Jamaica - InflationEconomic growth came in at 14.2% in Q2, rebounding from Q1’s 6.7% contraction, in part due to a base effect. Nonetheless, the economy still expanded 2.4% in quarter-on-quarter terms (Q1: +0.6% qoq), with the services sector performing particularly well amid fewer Covid-19 cases. Moreover, private consumption was likely supported by rising remittances, which came amid a tighter U.S. labor market. However, prospects likely worsened in Q3: A third Covid-19 wave hit the country in mid-July, leading to tighter restrictions, including a series of lockdowns from late August. More promisingly heading toward Q4, a fall in cases permitted the government to slightly ease restrictions in mid-September, while in early October S&P Global Ratings revised the country’s outlook from negative to stable, on the back of fiscal consolidation efforts and the institutionalization of the Central Bank’s independence.
Jamaica - Inflation Data
|Inflation Rate (CPI, annual variation in %)||3.7||2.3||4.4||3.7||3.9|
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Jamaica Inflation Chart
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