Published On: Thu, Nov 15th, 2012

Prices increased with 0.7%

WILLEMSTAD - The consumer price index (CPI) rose 0.7 percent in October compared to September, so from 120.8 to 121.6. This is a relatively large increase in the average price level for consumers during a month, in the sense that it is so far the largest increase in the CPI this year.

This is evident from the data published by the Central Bureau of Statistics (CBS). The price changes with the greatest impact occurred in the spending category 'Housing'.

By far the most important specific price change during the month of October was the price increase of electricity by 8 percent. Significant was also the rise of 'water' by 3 percent. Both belong to the spending category 'Living', by these two increases the cost of living has become substantially more expensive.

The CPI increased between October 2011 and October 2012 from 118.5 to 121.6, an increase of 2.6 percent. This figure shows how much more expensive the month of October was this year compared to October last year. In October 2012 was the twelve-month average of prices 3.2 percent higher than in October 2011, i.e. an increase of the 12-month average consumer price index of 116.4 to 120.1. The 3.2 percent according to the CBS gives a good picture of the long-term inflation and is therefore recommended as an indexing tool. Inflation in Curacao over the past six months is continuously at a level of more than 3 percent.

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