Published On: Tue, Nov 5th, 2013

Consumer prices Curaçao September 2013 – Prices 0.2 percent lower compared with August

WillemstadWILLEMSTAD - The consumer price index of Curaçao has decreased by 0.2 percent in the month of September 2013 compared to August 2013.

Measured over the twelve months until September 2013, the prices went up by 1.9 percent compared to the same period a year earlier.

The price changes which influenced the price development the most during last September occurred in the spending categories "Housing" and "Transport and communications".

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

Price development between August and September 2013

The consumer price index (CPI) of Curaçao has fallen in the month of September 2013 by 0.2 percent compared to August 2013, from 121.5 to 121.2.

The aforementioned slight decline was caused by the fall in prices which on the whole had taken a little more influence on the price trend than the price increases.

The main decreases during the month of September were the lowering of electricity and water consumption by 4 and 2 percent respectively. Especially the spending category "Housing" (-0.9%) became cheaper.

The main increase in prices during the month of September was gasoline becoming more expensive by 5 percent. As a result the cost of driving increased by 2.2 percent and consequently the price of the spending category "Transport and communications" by 0.8 percent.

The remaining seven expenditure categories had a lesser impact on the price movements of the month of September. Of these seven spending categories two and five were less expensive. Expensive were: "Beverages and tobacco" (+1.3%) and "Recreation, development and education" (+0.4%). Cheaper were: "Furnishings and household goods' (-0.7%)," Food "(-0.5%)," Other goods and services "(-0.3%)," Health Care "(-0.3%) and "Clothing and footwear" (-0.2%).

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

The consumer price index increased between September 2012 and September 2013 from 120.8 to 121.2, an increase of 0.3 percent. This figure indicates how much more expensive the month of September of this year was compared to the month of September last year.

In September 2013 the twelve-month average of prices was 1.9 percent higher than in September 2012, so an increase in the 12-month average consumer price index of 119.9 to 122.1.

The aforementioned figure of 1.9 percent gives, according to the CBS, a good picture of the long-term inflation and is therefore recommended as indexing tool. Inflation in Curaçao shows the last two years a gradual rising trend of about 2 percent to 3 percent, and then to fall gradually over the past seven months back to a level of about 2 percent.

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