Published On: Mon, Oct 27th, 2014

Consumer prices Curaçao: September 2014

Curacao statisticsWILLEMSTAD - The consumer price index of Curaçao has declined in the month of September 2014 by 0.3 percent. An average price increase of 1.2 percent can be measured over the twelve months to September 2014, compared to the same period a year earlier. The most notable change during the month of September, in the spending categories "Housing" and "Transport and communication" occurred. This is evident from the data announced by the Central Bureau of Statistics (CBS).

Price evolution during the month of September 2014

The consumer price index (CPI) of Curaçao fell by 0.3 percent in September 2014, thus from 125.1 in August to 124.7 in September.

Of the nine expenditure categories, seven have increased in price and two dropped in price. The seven spending categories that were more expensive, "Health Care" (+ 0.8%), "Nutrition" (+ 0.5%), "Recreation, education and development" (+ 0.4%), "Other" (+ 0.3%), "furnishings and household goods" (+ 0.1%), "Clothing and footwear" (+ 0.1%) and "Beverages and tobacco" (+ 0.1%).

The two spending categories that were cheaper: "Living" (-1.3%) and "Transport and communication" (-0.6%).

The most notable specific price changes of consumer goods and services during September: the decrease in the average electricity rate and water rate 6 and 1 percent (spending category "Housing") and the decrease in the price of petrol by 4 percent (spending category and "Transport and communication" ).

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

The consumer price index for September 2014 (124.7) was 2.4 percent higher than in September 2013 (121.8). This figure shows that the month of September this year was 2.4 percent higher than September last year, as far as the average price of consumer of goods and services.

The twelve-month average of prices in September 2014 was 1.2 percent higher than in September 2013, so an increase in the 12-month average consumer price index of 122.2 to 123.6.

This figure (1.2%) gives, according to the CBS, a good picture of the long-term inflation and is therefore recommended as indexing tool.

Inflation is a representation of the loss of monetary value, thus the purchasing power, as consumer prices rise for products and services. The inflation rate is an indication of the average increase in the cost of living. It can be noted that inflation in Curacao is on the rise after a period of decline in recent months.

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