WILLEMSTAD - The figures from the Central Bureau of Statistics (CBS) announced today show that the price level in April 2019 is 0.8 percent higher than in March 2019 and the inflation rate has remained stable (for the last 4 months) at 2,7 percent.
Price development in April 2019 compared to the previous month of March 2019
The consumer price index (CPI) of Curaçao increased by 0.8 percent in the month of April, compared to the month of March 2019, it has evolved from 129.5 in March 2019 to 130.5 in April 2019.
The most important price changes during the past month (April 2019) are; electricity (7.2%), water (4.1%), gasoline (2.9%) and potatoes, vegetables and fruit (3.4%) becoming more expensive.
Price development April 2019 compared to April 2018
The CPI of April 2019 (130.5) is 2.0 percent higher than the CPI of April 2018 (127.9). These figures give an indication that the cost of living in April is 2.0 percent higher than in the same month of 2018.
The development of all spending categories for the month of April 2019 compared to the month of March 2019:
1 food 1.1%
2 Beverages and smokers items 0.2%
3 Clothing and footwear 0.5%
4 Living 1.5%
5 Home furnishings and household goods -0.1%
6 Healthcare 0.1%
7 Transport & Communication 0.3%
8 Recreation and Development 0.0%
9 Other 0.2%
Long-term price development: inflation April 2019
Inflation reflects the loss of monetary value, that is, of purchasing power, as consumer prices for products and services rise over a longer period (usually 12 months). The inflation rate is therefore an indication of the average increase in the cost of living and is therefore recommended as an indexing tool for salaries, pensions, social benefits, minimum wages and other incomes.
Inflation in a given month is calculated by comparing the 12-month average of the CPI in that month with the 12-month average CPI in the same month a year earlier. Measured over the twelve-month period up to and including April 2019, compared to the same period a year earlier, consumer prices increased on average by 2.7 percent: the 12-month average CPI developed from 126.2 in April 2018 to 129.6 in April 2019. Inflation on Curaçao in the month of April 2019 remained stable at 2.7 percent.
