WILLEMSTAD - Today, the Central Bureau of Statistics (CBS) announces that it will make adjustments to the system and methodology for calculating the Consumer Price Index (CPI). This is to enhance the accuracy and relevance of the CPI, making it a more reliable tool for measuring inflation and price changes in Curaçao.
The CPI is important for policymakers, economists, businesses, and citizens to understand the cost of living and inflation trends. By making adjustments to the CPI system and methodology, the CBS aims to better align the CPI with the actual spending patterns of consumers and changing economic conditions.
CBS says it has invested in new technologies and methods to expedite data processing and improve the precision of CPI calculations. These adjustments are based on thorough research and testing to enhance the quality and reliability of the CPI. After extensive testing, the CPI figures for the first quarter of 2024 will be published.
CBS says it will continue to monitor and conduct further analyses to ensure that the CPI remains an accurate reflection of price developments in Curaçao.