Published On: Fri, Mar 4th, 2016

Consumer prices Curaçao: January 2016 – Prices 0.5 percent higher than in December 2015

WILLEMSTAD - The consumer price index in Curaçao rose in the month of January 2016 by 0.5 percent.

Measured over the twelve months to January 2016, compared to the same period a year earlier, an average price decrease can be observed from 0.6 percent.

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

This is evident from the data that the Central Bureau of Statistics (CBS) announced today.

Price trend during the month of January 2016

The consumer price index (CPI) of Curaçao increased in January 2016 compared with December 2015 by 0.5 percent, i.e. from 123.2 to 123.8.

Of the nine expenditure categories 6 have risen in price, while two fell in price and one remained stable in price. To the first group includes the categories of expenditure "Clothing and footwear" (+ 2.4%), "Other" (+ 0.9%), "Housing" (+ 0.6%), "Food" (+ 0.6% ), "Beverages and tobacco" (+ 0.5%) and "furnishings and household goods' (+ 0.3%). The second group includes the categories of expenditure "Health" (-0.5%) and "Transport and communication" (-0.3%). The third group consists of the spending category "Recreation, education and development" (0.0%).

In January several notable changes in prices of specific goods and services have occurred. More expensive were mainly footwear (+ 4%), premiums health insurance (+ 2.5%), "potatoes, fruit and vegetables" (+ 2%), electricity tariffs for domestic use (+ 2%), clothing (+ 2%), the minimum wage (+ 1.0%) and water tariffs for domestic use (+ 1.0%). Cheaper were mainly diesel (-5%) and petrol (-2%).

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

The consumer price index in January 2016 (123.8) was 0.3 percent lower than in January 2015 (124.2). As far as the average price of consumer goods and services goes, this figure shows that the month of January of this year was 0.3 percent cheaper than the month of January last year.

The twelve-month average of prices in January 2016 was 0.6 percent lower than in January 2015, so a decline in the 12-month average consumer price index from 124.3 to 123.5.

This figure (-0.6%), according to the CBS gives a good picture of long-term inflation.



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