Consumer prices Curacao: February 2015. Prices 1.0 percent lower than in January
WILLEMSTAD - The consumer price index of Curaçao has dropped in the month of February 2015 by 1.0 percent.
Measured over the period of twelve months to February 2015, an average price increase can be observed from 1.3 percent compared to the same period a year earlier.
During the month of February, the major change occurred in the spending categories "Living" and "Transport and Communication".
This is evident from the data announced by the Central Bureau of Statistics (CBS).
Price movements during the month of February 2015
The consumer price index (CPI) of Curaçao decreased in February 2015 by 1.0 percent compared with January 2015, ie from 124.2 to 123.0.
During the month of February, the major change occurred in the spending categories "Housing" (-2.3%) and "Transport and Communication" (-1.8%), respectively. The spending category "Living" had substantial price reduction of electricity (-10%) and tap water (-4%) and the significant reduction in price of cooking gas (-9%), the greatest impact on the price trend. While the price development of the spending category "Transport and Communication" was marked by petro and diesel becoming considerably cheaper. Petrol (-12%) and diesel (-20%).
Price development compared to a year ago, and long-term inflation
The consumer price index for February 2015 (123.0) was 0.3 percent lower than in February 2014 (123.4). This figure shows that the month of February this year was 0.3 percent cheaper than the month of February last year, as far as the average price of consumer products and services go.
The twelve-month average of prices in February 2015 was 1.3 percent higher than in February 2014, so an increase in the 12-month average consumer price index from 122.6 to 124.2.
This figure (1.3%) gives the CBS a good picture of the long-term inflation and is therefore recommended as indexing tool.