WILLEMSTAD - According to the data released by the Central Bureau of Statistics (CBS) today, the price level in January 2023 decreased by 1.8 percent compared to December 2022. The price level in February 2023 increased by 0.4 percent compared to January 2023, and in March, the price level increased by 0.1 percent compared to February 2023. 

Monthly developments

Price development in January 2023 compared to the previous month, December 2022: 

The consumer price index (CPI) of Curaçao decreased by 1.8 percent in January 2023 compared to December 2022, with a change from 117.5 in December 2022 to 115.5 in January 2023. This decrease was mainly driven by lower prices in the transportation and communication category (-11.8%), including gasoline (-11.5%) and diesel (-19.4%). 

Measured over the period of twelve months up to and including January 2023, compared to the same period a year earlier, consumer prices have increased by an average of 7.5 percent in January 2023. 

Price development in February 2023 compared to January 2023: The consumer price index (CPI) of Curaçao increased by 0.4 percent in February 2023 compared to January 2023, changing from 115.5 in January 2023 to 115.9 in February 2023. The main increases in February 2023 were observed in the spending categories of food products (1.4%) and furnishings and household goods (2.4%). 

Measured over the period of twelve months up to and including February 2023, compared to the same period a year earlier, consumer prices have increased by an average of 7.5 percent in February 2023. 

Price development in March 2023 compared to the previous month, February 2023: The consumer price index (CPI) of Curaçao increased by 0.1 percent in March 2023 compared to February 2023, changing from 115.9 in February 2023 to 116.0 in March 2023. 

In March 2023, most spending categories became more expensive, with the exception of the food products category (-1.0%) and transport and communication (-0.6%). The main price changes during March 2023 were the increase in housing costs (0.8%), furnishings and household goods (0.6%), and healthcare (0.6%). On the other hand, the following spending categories became cheaper: food products (-1.0%), including potatoes, vegetables, and fruits (-9.5%); transport and communication (-0.6%), including transport services (-3.5%). 

Measured over the period of twelve months up to and including March 2023, compared to the same period a year earlier, consumer prices have increased by an average of 7.4 percent in March 2023.