Published On: Wed, Jun 3rd, 2015

Consumer prices Curaçao: April 2015 – Prices stable compared to March

The consumer price index of Curacao remained stable in the month of April 2015.

WillemstadWILLEMSTAD - Measured over the twelve months to April 2015, compared to the same period a year earlier, an average price increase can be observed from 1.4 percent.

During the month of April, the most important price changes occurred in the spending categories "Transport and Communication", "Housing" and "Clothing and footwear".

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

Price trend during the month of April 2015

The consumer price index (CPI) of Curacao in April 2015 compared with March 2015, remained stable, at the level of 122.4.

During the month of April, the most important price changes occurred in the spending categories "Transport and communication" (-0.2%), "Living" (+ 0.5%) and "Clothing and footwear" (-2.0%).

The spending category "Transport and communication" refers to the drop in prices of diesel and petrol with 10 and 2 percent respectively. The spending category "Living" refers to the tariff increase in the use of water by 11 percent and the rate of decline in electricity consumption by 2.5 percent. As for the spending category "Clothing and footwear" it can be seen that both clothing and footwear have become cheaper, namely 2 and 4 percent, respectively.

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

The consumer price index in April 2015 (122.4) was 0.2 percent lower than in April 2014 (122.6). This figure shows that the month of April of this year was 0.2 percent cheaper than the month of April last year, as far as the average price of consumer products and services goes.

The twelve-month average of prices in April 2015 was 1.4 percent higher than in April 2014, so a rise in the 12-month average Consumer Price Index from 122.5 to 124.2. This figure (1.4%) according to the CBS is a good picture of the long-term inflation and is therefore recommended as indexing tool.

Inflation is a reflection of the loss of monetary value, thus the purchasing power as consumers pay higher prices for products and services. The inflation rate is an indication of the average increase in the cost of living. It may be noted that inflation in Curacao has been below the level of 2 percent over the past seven quarters.

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