WILLEMSTAD - The Central Bureau of Statistics (CBS) announced on Monday that Curaçao's inflation rate in August reached 3.3%, marking a slight increase from 3.1% in July. This year-over-year increase reflects a consistent rise in the cost of living over the past year.
Despite the annual inflation increase, the consumer price index (CPI) saw a minor decrease from July to August, dropping by 0.2% as the index fell from 104 to 103.8. The main areas of price decline were in housing, recreation, and education, while prices for beverages and tobacco experienced a slight rise.
CBS noted no price changes in essential categories such as food and transportation. They highlighted that inflation data serves as a guideline for adjusting salaries and pensions, helping address the impact of rising living costs on purchasing power.
According to CBS, these CPI figures are vital for income indexation, providing insight into living expenses on the island and helping policymakers understand the ongoing trends in inflation and cost of living.