While Jamaica may be more like Japan than Greece in some ways, inflation is not one of them. The latest data from STATIN showed the month of December having 1% inflation, this was the second highest rate for the calendar year. The chart below shows monthly rates from January 2010 to December 2012.
(The accompanying Motion Chart can be found here)
The chart above shows December’s inflation reading of 1.0% is quite high in the context of the past two years. The annual inflation rate for 2012 ended up at 8%, higher than 2011’s 6%. However, who feels it knows it. Since the the turn of the 21st century Jamaica has felt even higher inflationary periods than this. Let us examine the annual inflation rate since 2001:
(The accompanying Motion Chart can be found here)
In the context of the chart above, 8% annual inflation seems like a below-average rate.
Just for curiosity, diGJamaica looked up Japan’s and Greece’s annual inflation rate over the same period:
What do you think Jamaica’s inflation rate will be for 2013?
