Negative inflation in the Caribbean Netherlands

As reported by Statistics Netherlands, inflation according to the consumer price index (CPI) on the three islands of the Caribbean Netherlands was negative in the third quarter of 2015. This was already the case on Bonaire and St Eustatius in the first two quarters of this year. This quarter was the first time that inflation was negative on Saba.

Inflation on Bonaire unchanged

Just as in the second quarter, Bonaire’s inflation rate was -0.9 percent. Food prices were lower in the third quarter than a year ago, pushing down the inflation rate. The increase in regulated fuel prices on the other hand had an upward effect on inflation. As a result, the inflation rate remained unchanged on balance.

Higher inflation on St Eustatius

On St Eustatius, the inflation rate went up to -0.5 percent in the third quarter of 2015. In the second quarter, local consumer prices were still 1.7 percent lower than the previous year. The inflation rate increased due to soaring regulated electricity prices. Cheaper motor fuels on St Eustatius curbed inflation.

Inflation negative for the first time on Saba

Saba’s inflation rate was down to -0.9 percent. In the second quarter, it was still 0.4 percent. Inflation fell due to price developments in food, motor fuels and cosmetics.

Provisional figures

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

This article is also available in Papiamento.