Published On: Wed, Apr 3rd, 2013

Living becomes more expensive

Curacao Government CenterWILLEMSTAD - Due to a sharp increase in the price of water and electricity, the consumer price index Curacao went up by 0.9 percent in February compared to January, so from 121.0 to 122.1. This is according to the Central Bureau of Statistics (CBS).

The spending category ‘living' is by far the largest contributor to the increase in prices during the month of February. This was caused by the increase of electricity and water consumption by 10 and 5 percent respectively. In this category, prices rose to 2.5 percent.

Of the remaining eight spending categories virtually four stayed stable in price 'clothing and footwear’ rose with 0.1 percent, just as ‘health and transport ', ‘communication and recreation' and 'development and education'. The four categories of expenditure that are slightly more expensive are 'food' (+0.7 percent), ‘beverages and tobacco' (+0.6 percent), ‘home furnishings and household goods' (+0.5 percent) and 'other' (0.4 percent). The consumer price index rose in this period from 119.4 to 122.1, an increase of 2.3 percent. This figure shows how much more expensive the month of February of this year was compared to February last year.

Over the past year, from February last year to February this year, prices increased by 3.0 percent, an increase of the twelve-month average consumer price index of 117.6 to 121.1. The aforementioned figure of 3.0 percent, according to the CBS gives a good picture of the long-term inflation and is therefore recommended as an indexing tool. Inflation of Curaçao has remained stable.

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