Jamaica Inflation Turns Negative in April as Electricity Costs Drop

Jamaica’s inflation rate returned to negative territory in April 2026, with the All Jamaica Consumer Price Index declining by 0.3 percent. This reversal from March’s 0.3 percent increase was primarily driven by a significant 12.5 percent reduction in electricity, gas, and fuel costs, which outweighed rising prices for agricultural produce and petrol. According to data from the Statistical Institute of Jamaica (STATIN), the point-to-point inflation rate remained stable at 4.3 percent, staying within the Bank of Jamaica’s target range of four to six percent. While energy costs moderated overall inflation, food prices continued to climb, with the Food and Non-Alcoholic Beverages division rising 0.6 percent due to increased costs for fruits, nuts, and seafood. Rural consumers experienced a larger price decline compared to those in the Kingston metropolitan area. These figures suggest that imported energy costs are helping to dampen broader price increases, potentially allowing the central bank to maintain a stable monetary policy stance without further interest rate hikes in the near term.