Inflation Caribbean Netherlands declines further

According to figures released today by Statistics Netherlands, inflation according to the consumer price index (CPI) on all three islands of Caribbean Netherlands was down further in the second quarter of 2015. On Bonaire and St Eustatius inflation was actually negative for the second quarter in a row.

On Bonaire inflation fell for the third consecutive quarter, to -0.9 percent in the second quarter of 2015. In the first quarter, consumer prices were still 0.6 percent lower than in the same period last year. Price developments of food in particular lowered Bonaire’s inflation level. Although food prices were 0.4 percent higher than one year previously, the year-on-year price increase in the first quarter was still 2.9 percent. Clothing became more expensive on Bonaire which had an upward effect on inflation.

On St Eustatius inflation also fell for three consecutive quarters and came out at -1.7 percent in the second quarter of 2015. That is down 0.6 percentage points on the first quarter. Here as well, food prices accounted for the lower inflation rate.

On Saba inflation dropped to 0.4 percent. Consumer rates in the first quarter were still 1 percent up on the same quarter of 2014. The decrease was mainly due to the price developments in restaurants and cafes, where prices rose in the second quarter of 2014, pushing inflation up. This effect has now come to an end. Price developments of cosmetics and air tickets also had a downward effect on inflation.

Provisional figures

Figures over the second quarter of 2015 are provisional and will become definite when the figures for the third quarter of 2015 are published.

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