WILLEMSTAD - In 2023, inflation in Curaçao reached 3.5%, according to the Central Bureau for Statistics (CBS), indicating a notable decrease in the purchasing power of the local currency. 

The CBS reported a 0.7% increase in prices on Curaçao in November 2023 compared to October. In December, the price level saw a further rise of 0.2%. 

The annual inflation rate stands at 3.5%, reflecting the overall surge in the prices of goods and services within the economy over a specified period, resulting in a decrease in purchasing power. 

Breaking down the inflation figures for November, notable increases were observed in the prices of home furnishings, healthcare, and recreation, while transportation and communication costs experienced a 0.1% reduction. In December, there were notable upticks in miscellaneous expenses, recreation, home furnishings, food items, beverages, and tobacco products. Conversely, transportation and communication costs saw a 3.4% decline.