Published On: Tue, Nov 1st, 2016

Consumer prices in Curacao: September 2016; Prices 0.4 percent lower than in the month of August 2016

Curacao StatisticsWILLEMSTAD - The Curacao consumer price index fell in the month of September 2016 by 0.4 percent.

Measured over the twelve months to September 2016, compared to the same period a year earlier, an average price decrease of 0.5 per cent can be observed. Inflation in Curacao was -0.5 percent in September 2016.

During the month of September, the most notable price changes occurred in the spending categories "Living" and "Transport and communication".

This is evident from the data that was announced by the Central Bureau of Statistics (CBS) this week.

Price trend during the month of September 2016

The consumer price index (CPI) of Curaçao decreased in September 2016 compared to August 2016 by 0.4 percent, from 124.4 to 123.9.

The overall price trend shows that three spending categories have become more expensive, "Recreation, development and education" (+ 0.7%), "Food" (+ 0.3%) and "Clothing and footwear" (+ 0.1%). Furthermore, five spending categories were cheaper, "Housing" (-1.1%), "Transport and communication" (-0.8%), "Food and tobacco '(-0.2%), "Furnishings and household goods” (- 0.1%) and "Other" (-0.1%). Lastly the price level of the spending category "Healthcare" remained stable.

The specific price changes with the greatest impact on the price trend during the month of September are respectively the rate decrease of electricity by 7 percent and the cheapening of gasoline by 6 percent. Furthermore, respectively mentioning the increase in prices of diesel by 4 percent and the cheapening of water with 2 percent. Gasoline and diesel belong to the spending category "Transport and Communication", while electricity and water are components of the spending category "Living".

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

The consumer price index in September 2016 (123.9) was 0.3 percent lower than in September 2015 (124.3). As far as the average price of consumer goods and services goes, this figure (-0.3%) indicates that the month of September this year was 0.3 percent cheaper than the month of September last year.

The twelve-month average of prices in September 2016 was 0.5 percent lower than in September 2015, so a decline in the 12-month average consumer price index from 124.0 to 123.3. This figure (-0.5%), according to the CBS gives a good picture of long-term inflation.

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