Published On: Thu, Aug 28th, 2014

CBS: Light inflation in July

Curacao statisticsWILLEMSTAD - The consumer price index (CPI) of Curaçao has increased in July by 0.1 percent. This is according to a report from the Central Bureau of Statistics (CBS). Measured over the twelve months to July prices rose by 0.9 percent compared to the same period a year earlier.

The (CPI) of Curaçao rose in July from 125.0 to 125.1. The CPI for July 2014 was 3.0 percent higher than in July 2013.

Of the nine spending categories, six increased in price, two dropped in price and one (home furnishings and household goods) remained stable in price. The most notable decline was that of the rate for water (category living), which was 4 percent cheaper. Also gasoline (Category transport and communications) fell in price (1 percent). Electricity was more expensive (1 percent), and clothing and footwear (1.3). Other categories increased slightly in price, such as beverages and tobacco (0.4 percent), health care (0.4), food (0.3) and residual category "other" (0.3). Two categories were slightly cheaper, i.e. transport and communications (-0.3) and housing (-0.1).

Inflation is a representation of the loss of value of money due to the rise of consumer prices for products and services. The inflation rate is an indication of the average increase in the cost of living. The inflation in Curaçao has fallen steadily since June 2012 or remained stable followed by an increase in January 2014 (from 1.3 to 1.4 percent) and July 2014 (from 0.6 to 0.9 percent).

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