Published On: Tue, Sep 8th, 2015

Consumer prices Curacao: July 2015 – Prices rose 1.1 percent compared with June

WillemstadWILLEMSTAD - The consumer price index of Curaçao increased by 1.1 percent in the month of July 2015.

Measured over the twelve months to July 2015 compared to the same period a year earlier, an average price increase can be observed from 0.8 percent.

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

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

Price trends during the month of July 2015

The consumer price index (CPI) of Curaçao in July 2015 compared with June 2015, increased by 1.1 percent, from 123.8 to 125.2.

During the month of July the most striking specific price changes occurred in the expenditure categories "Power" (+ 0.3%), "Housing" (+ 1.6%), "Clothing and footwear" (+ 2.3%) and " transport and communication '(+ 2.3%).

The price development of the spending category "Power" was mainly affected by the food group "cereal products" (+ 2.5%). The spending category "Living" was in the month of July marked by the growth rate of electricity consumption by 8 percent, while water consumption rate (almost) remained stable.

The spending category "Clothing and footwear", both the product group "clothing" (+ 1.9%) as the product group 'footwear' (+ 4.2%) had a significant impact on inflation.

The greatest impact on the price development of the spending category "Transport and Communication" was caused by the fuel price increase of 17 percent, followed by the rising price of diesel by 11 percent.

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

The consumer price index in July 2015 (125.2) was 0.1 percent higher than in July 2014 (125.1). This figure shows that the month of July of this year, is almost at the same price level as the month of July last year, as far as the average price of consumer products and service goes.

The twelve-month average of prices in July 2015 was 0.8 percent higher than in July 2014, so a rise in the 12-month average Consumer Price Index from 123.1 to 124.0.

This figure (0.8%), according to the CBS is a good picture of the long-term inflation and is therefore recommended as an indexing tool.



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