Published On: Wed, Jun 1st, 2016

Consumer prices in Curaçao: April 2016 – Prices 0.1 percent lower than in the month of March 2016

P1030860WILLEMSTAD - The Curaçao consumer price index fell in the month of April 2016 by 0.1 percent.

Measured over the twelve months to April 2016, an average price decrease can be observed from 0.5 percent compared to the same period a year earlier.

In April, the most noticeable price changes occurred in the spending department "Transport and communication" and "Housing".

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

Price trend during the month of April 2016

The consumer price index (CPI) of Curaçao in April 2016 compared with March 2016 decreased by 0.1 percent, from 122.8 to 122.7.

The spending categories that showed the largest price changes were "living" in April (+ 0.5%) and "Transport and communication" (-0.5%). "Housing" was mainly affected by electricity which was 2 percent higher, while "Transport and Communication" was characterized by the cheapening of gasoline and diesel by 4 and 9 percent respectively.

Price development of utility rates and fuel prices in the last 2 years

The electricity tariffs alternately dropped over the past two years and increased, in July 2014 as the highest point. The current (April 2016) prices of electricity is 31 percent lower than the highest level. Furthermore, in April 2016 the consumer paid respectively 6 percent higher and 16 percent cheaper for electricity consumption, compared to April 2015 and April 2014.

The development of the water rates was, during the last two years, relatively stable or marked by changes that neutralize each other almost entirely, such as decrease and increase, respectively, -11 and +11 percent in March and April 2015 respectively. Also notable is that the current price (April 2016) of tap water is 3 percent higher than a year ago and 2 percent lower than two years ago.

The liter price of gasoline over the past two years has dropped significantly from ANG 2.347 in April 2014, to ANG 1.554 in April 2015 and 1.246 in April 2016. The current gasoline price (April 2016) is thus respectively 20 and 47 percent lower than year and two years ago.

The price per liter of diesel over the past two years has dropped significantly from Fl. 1,969 in April 2014 to ANG 1,157 in April 2015 to 0.877 in April 2016. The price of diesel was in April 2016, so 24 and 55 percent lower respectively than and two years earlier.

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

The consumer price index in April 2016 (122.7) was 0.2 percent higher than in April 2015 (122.4). as far as the average price of consumer goods and services goes, this figure shows that the month of April of this year was 0.2 percent higher than April last year.

The twelve-month average of prices in April 2016 were 0.5 percent lower than in April 2015, so a decline in the 12-month average consumer price index from 124.2 to 123.6. This figure (-0.5%), according to the CBS, gives a good picture of long-term inflation.


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