Tuesday , March 28 2023

Curaçao : Consumer prices in June 2013 are 0.5 percent lower than in May

In contrast with the inflation in the Netherlands, the consumer price index of Curaçao has fallen in the month of June 2013 by 0.5 percent compared to May 2013.

The Curacao Chronicle reports today that, measured over a period of twelve months until June 2013, the prices increased by 2.3 percent compared to the same period a year earlier. This compares favorable to the 3.1% inflation in The Netherlands.

The price changes with the greatest impact on the evolution of last June occurred in the spending categories “Housing” and “Transport and communications”.

This is evident from the data that the Central Bureau of Statistics (CBS) has presently announced.

Price changes between May and June 2013

The consumer price index (CPI) of Curaçao has fallen in the month of June 2013 by 0.5 percent compared to May 2013, thus from 123.1 to 122.5.

Cheaper were spending categories “Power” (-1.2%), “Housing” (-0.8%), “Clothing and footwear” (-0.5%), “Transport and communication” (-0.5% ), “Health Care” (-0.3%) and “furnishings and household goods’ (-0.2%). Expensive, the expenditure categories “Beverages and tobacco” (+1.7%), “Recreation, development and education” (+0.3%) and “Other” (+0.1%).

The biggest impact on prices during the month of June was caused by the fall in prices of electricity by 3 percent (spending category “Housing”). The second biggest impact was the drop of gasoline by 3 percent (spending category “Transport and communication”). In third place was also the decrease of tap water with 3 percent (spending category “Living“) a significant influence on price developments during the month of June.

( Curacao Chronicle )
( Curacao Chronicle )

Price change over a year ago and long-term inflation

The consumer price index increased between June 2012 and June 2013 from 121.0 to 122.5, an increase of 1.2 percent. This figure indicates how much more expensive the month of June this year compared to the month of June last year again.

In June 2013 the twelvemonth average of prices was 2.3 percent higher than in June 2012, so an increase in the 12-month average consumer price index of 119.2 to 122.0.

The aforementioned figure of 2.3 percent gives, according to the CBS,  a good picture of the long-term inflation and is therefore recommended as an indexing tool. Inflation in Curacao therefore exhibits a downward trend in recent months.

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