Published On: Tue, Oct 8th, 2013

Consumer prices Curacao in August 2013 remained stable compared with July

Inflation CuracaoWILLEMSTAD – The consumer price index of Curaçao in the month of August remained unchanged compared to July of this year.

Measured over the twelve months till August 2013, the prices increased by 2.0 percent compared to the same period a year earlier.

The evolution which influenced the price changes of last August occurred in the spending categories "Housing", "Food", "Beverages and tobacco" and "Transport and communications".

This is evident from the data which the Central Bureau of Statistics (CBS) has announced.

Price changes between July and August 2013

The consumer price index (CPI) of Curaçao remained unchanged in August compared to July 2013, i.e. 121.5.

If we look at the spending categories, there are price changes visible. Spending categories "Power" ( -0.7 % ) , " Transport and communication " ( -0.3 % ) , " Health Care " ( -0.2 % ) and " Recreation, education and development " ( -0 , 1%). Expenditure categories "Beverages and tobacco " ( +2.0 % ) , "Housing " ( +0.3 % ) and " Clothing and footwear " ( +0.3 % ) became more expensive . Price remained stable in the spending categories “Furnishings and household goods " and " Other”.

Overall, the increases and decreases balanced each other during the month of August, which cause the CPI, thus the average price level, to remain unchanged.

The most notable specific price changes during the month of August were:

Water and electricity rates went up by 3 and 0.4 percent (spending category "Housing ") respectively;

Food groups "potatoes , fruit and vegetables" ( -3.5 % ) and "cereal products" ( -1.2 % ) became cheaper - especially white rice ( -7 % ) and brown rice ( -6 % )- ( spending category " Food " ) ,

Product group “beverages” (+2.0 %) and "tobacco" (+1.7 %) became more expensive (spending category "Beverages and tobacco”) and

Petrol became cheaper by 2 percent (spending category “Transport and communication").

Price change over a year ago and long-term inflation

The consumer price index increased between August 2012 and August 2013 from 120.7 to 121.5, an increase of 0.7 percent. This figure indicates again how much more expensive the month of August of this year was compared to August last year.

In August 2013 the twelve-month average of prices was 2.0 percent higher than in August 2012, i.e. an increase in the 12-month average consumer price index of 119.7 to 122.1.

The aforementioned figure of 2.0 percent gives, according to the CBS, a good picture of the long-term inflation and is therefore recommended as indexing tool. Inflation in Curacao has shown a downward trend in the past six months.

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