Published On: Wed, Aug 5th, 2015

Consumer prices Curacao: June 2015 – Prices are 0.5 percent higher compared to May

Curacao statisticsWILLEMSTAD - The consumer price index of Curaçao increased by 0.5 percent in the month of June 2015. Measured over the twelve months to June 2015 compared to the same period a year earlier, an average price increase can be observed from 1.0 percent.

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

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

Price trend during the month of June 2015

The consumer price index (CPI) of Curaçao in June 2015 compared with May 2015, increased by 0.5 percent, ie from 123.2 to 123.8.

During the month of June four of the nine spending categories rose in price, while prices remained stable in three and two fell in price. The spending categories that were more expensive: "Living" (+ 1.7%), "Transport and communication" (+ 0.7%), "Food" (+ 0.3%) and 'recreation, development and education" (+ 0.1%). Cheaper were spending categories "Clothing and footwear" (-3.6%) and healthcare (-0.1%). The spending categories that have remained stable in price during the month of June were "Other", "Furnishings and household goods" and "Beverages and tobacco".

The most striking specific price changes during the month of June, on the one hand were the increased cost of electricity consumption (spending category "Living") and petrol (spending category "Transport and Communications") by 10 and 6 percent, and secondly the cheapening of clothing (spending category "Clothing and footwear ") and the use of tap water (spending category" Living ") with 4 and 1 percent respectively.

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

The consumer price index in June 2015 (123.8) was 1.0 percent lower than in June 2014 (125.0). This figure shows that the month of June this year was 1.0 percent cheaper than the month of June last year, as far as the average price of consumer products and services go.

The twelve-month average of prices in June 2015 were 1.0 percent higher than in June 2014, so a rise in the 12-month average Consumer Price Index from 122.8 to 124.0. This figure (1.0%) according to the CBS is a good picture of the long-term inflation and is therefore recommended as indexing tool.

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