Published On: Mon, Mar 11th, 2013

Prices in Curaçao drop 5%

PundaWILLEMSTAD--The average prices on Curaçao dropped by 0.5 per cent in January compared to December 2012, according to the Central Bureau of Statistics (CBS). Over a period of 12 months up to and including January 2013, prices decreased by a total of 3 per cent compared to the same period in 2011. According to CBS, this figure gives a good picture of the long-term inflation and is therefore advised as indexation instrument.

Every month CBS keeps track of the price changes in nine spending categories. Eight of these nine categories showed a change in January compared to December. Health increased by 0.1 per cent; Other +0.3 per cent; Recreation, Development and Education +0.4 per cent; Food +0.5 per cent; Liquor and Tobacco +0.5 per cent and Home Furnishing and Household Effects +0.7 per cent.

However, Living (-1.2 per cent) and Transport and Communication (-2.0 per cent) showed substantial decreases. The prices in the spending category Clothing and Footwear remained stable. The most important price development of specific products and services in January was the decrease in the cost of electricity (in Living) and gasoline (in Transport and communication) by 6 and 12 per cent respectively.

Worth mentioning is the price of water decreasing by 2 per cent (in Living), as well as the increase of the minimum wage (in Home Furnishing and Household Effects) and of the premium for medical insurance (in Others) by 3 and 6 per cent respectively.

The Consumers’ Price Index (CPI) figure went up by 1.4 per cent, from 119.3 in January 2012 to 121.0 in January 2013. This figure indicates that January 2013 was more expensive than January 2012. The twelve-month average of the prices in January 2013 was 3.0 per cent higher than in January 2012; an increase of the twelve-month average CPI figure from 117.3 to 120.9. This means the inflation on Curaçao had dropped slightly.

Source: Dutch Caribbean Business

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