Published On: Mon, Jan 11th, 2016

Consumer prices Curacao: November 2015 – Prices rose 0.1 percent compared to October

Curacao statisticsWILLEMSTAD - The consumer price index of Curaçao increased by 0.1 percent in the month of November 2015.

Measured over the twelve months to November 2015, compared to the same period a year earlier, an average price decrease can be observed from 0.2 percent.

During the month of November 2015, the most important price changes occurred in the spending categories "Food", "Housing" and "Transport and communications".

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

Price trends during the month of November 2015

The consumer price index (CPI) of Curaçao in November 2015 compared with October 2015, increased by 0.1 percent, i.e. from 123.1 to 123.2.

In November, two spending categories have become cheaper: "Drink and tobacco '(-0.3%) and" Transport and communication "(-1.0%). Furthermore, three spending categories remained stable in price: "Power", "Recreation, education and development" and "Other". It may also be noted that the remaining four spending categories have become more expensive, "Clothing and footwear" (+ 1.2%), "Housing" (+ 0.8%), "Furnishings and household goods' (+ 0.2%) and "Health care" (+ 0.2%).

During the month of November, especially three specific factors influenced price developments in Curaçao: the price increase "potatoes, fruit and vegetables" (spending category "Food") by 2.5 percent, the rate hike of electricity and water with 4 and 1 percent respectively (spending category "Living") and the petrol and diesel price reduction by 7 and 4 per cent respectively (spending category "Transport and Communications").

Price change compared to a year ago and inflation

The consumer price index in November 2015 (123.2) was 1.8 percent lower than in November 2014 (125.4). This figure shows that the month of November of this year was nearly two per cent cheaper than the month of November last year, as far as the average price of consumer products and services goes.

The twelve-month average price in November 2015 was 0.2 percent lower than in November 2014, so a decline in the 12-month average Consumer Price Index from 124.0 to 123.7. This deflation (-0.2%) is, according to the CBS, a good representation of the change in purchasing power.

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