WILLEMSTAD – The consumer price index declined in February and March 2016 by 0.7 and 0.1 percent respectively.
Measured over the twelve months to February and March 2016, compared to the same period a year earlier, an average price decrease can be observed from 0.6 and 0.5 percent respectively.
The main price changes during both February and March occurred in the spending category “Living”.
This is evident from the data that was announced by the Central Bureau of Statistics (CBS).
Price development during the months of February and March 2016
The consumer price index (CPI) of Curaçao decreased in February 2016 compared with January 2016 by 0.7 percent, from 123.8 to 122.9. Further, the CPI fell 0.1 per cent in March compared to February, so from 122.9 to 122.8.
The main change in price during February occurred in the spending category “Living” (-1.5%): cooking gas, electricity and water consumption were respectively 11, 7 and 3.5 percent cheaper. Noteworthy are also the most significant price changes in the spending category “Transport and communication” (-0.9%) gasoline and diesel were respectively 8 and 4 percent cheaper in February.
Also in March did the main price changes occur in the spending category “Living” (+ 0.1%): pest control by professional companies and water were respectively 6 and 4.5 per cent more expensive, while the domestic tariff for electricity consumption fell 2 percent. Noteworthy is also the most significant change in prices in the spending category “Transport and communication” (-0.2%): the price of gasoline fell 2 percent in March.
Price development compared to a year ago and long-term inflation
The consumer price index (CPI) in February 2016 (122.9) was 0.1 percent lower than in February 2015 (123.0), while the CPI of March 2016 (122.8) was 0.3 percent higher compared to March 2015 (122.4). These figures show that February this year was 0.1 percent lower than February last year, and March of this year was 0.3 percent higher than March last year, as far as the average price of consumer products and services.
The twelve-month average of prices in February 2016 was 0.6 percent lower than in February 2015, so a decline in the 12-month average consumer price index (CPI) from 124.2 to 123.5. In March 2016 a twelve month average of prices which was measured 0.5 percent lower than in March 2015, representing a decrease of 12-month average CPI of 124.2 to 123.6.
These figures (-0.6% and -0.5%) give according to CBS a good picture of the long-term inflation.