Published On: Wed, Mar 11th, 2015

Consumer prices Curacao: January 2015 – Prices 0.3 percent lower than in December

StatisticsWILLEMSTAD - The consumer price index of Curaçao has dropped in the month of January 2015 by 0.3 percent.

An average price increase of 1.4 percent can be observed, measured over the period of twelve months to January 2015 compared to the same period a year earlier.

During the month of January there have been several notable price changes.

This is evident from the data published by the Central Bureau of Statistics (CBS).

Price movements during the month of January 2015

The consumer price index (CPI) of Curaçao in January 2015 compared with December 2014 decreased by 0.3 percent, from 124.6 to 124.2.

Of the nine expenditure categories 4 rose in price, while two fell in price and three remained stable in price. In the first group the spending categories there are "Clothing and footwear" (+ 2.2%), "Furnishings and household goods' (+ 0.4%), "Food" (+ 0.3%) and "Beverages and tobacco" (+ 0.2%). The second group includes the categories of expenditure "Transport and communication" (-1.9%) and "Living" (-0.3%). The third group includes the categories of expenditure "Healthcare" (0.0%) "Recreation, education and development" (0.0%) and "other" (0.1%).

In January, there have been several notable changes in prices of specific products and services. Cheaper were mainly petrol (-10%), diesel (-10%), electricity (-2%) and consumption of tap water (-0.9%). More expensive were especially footwear (+ 4.5%), insurance (+ 3%), the minimum wage (+ 2.8%) and clothing (+ 1.8%).

Price development compared to a year ago, and long-term inflation

The consumer price index in January 2015 (124.2) was 0.9 percent higher than in January 2014 (123.1). This figure shows that the month of January of this year, was 0.9 percent more expensive than the month of January last year, as far as the average price of consumer products and services goes.

The twelve-month average of prices in January 2015 was 1.4 percent higher than in January 2014, so an increase in the 12-month average consumer price index from 122.5 to 124.3.

This figure (1.4%) gives the CBS a good picture of the long-term inflation and is therefore recommended as indexing tool.

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