WILLEMSTAD – The Central Bureau of Statistics (CBS) has released new data showing that the price level in Curaçao decreased by 0.5% in December 2024 compared to November 2024. The annual inflation rate for 2024 was recorded at 2.6%.
Consumer Price Trends in December 2024 Compared to November 2024
The Consumer Price Index (CPI) for Curaçao fell by 0.5% in December 2024 compared to the previous month. The index stood at 102.6 in December, down from 103.1 in November 2024.
Most expenditure categories saw a drop in prices in December, including:
Transport & Communication (-1.5%)
Household Furnishings & Appliances (-0.8%)
Housing (-0.5%)
Food (-0.4%)
Healthcare (-0.3%)
Recreation & Leisure (-0.1%)
However, price increases were observed in:
Clothing & Footwear (+0.3%)
Miscellaneous Expenses (+0.3%)
Meanwhile, prices for Beverages & Tobacco remained unchanged (0.0%).
Long-Term Price Trends and Inflation
Inflation represents the loss of purchasing power as consumer prices for goods and services increase over time (typically measured over a 12-month period). The inflation rate reflects the average rise in the cost of living and is commonly used for indexing wages, pensions, social benefits, minimum wage, and other incomes.
The inflation rate for a specific month is calculated by comparing the 12-month average CPI of that month with the 12-month average CPI of the same month a year earlier.
For the 12-month period ending in December 2024, compared to the same period in 2023, consumer prices increased by an average of 2.6%. The 12-month average CPI rose from 100.0 in December 2023 to 102.6 in December 2024.