The development of consumer prices on Curaçao for the month of March 2020
WILLEMSTAD - The figures from the Central Bureau of Statistics (CBS) published today show that the price level has risen by 0.1 percent compared to February 2020. However, the inflation figure has risen moderately to 2.8 percent.
Price development month of March 2020 compared to the previous month of February 2020
Curaçao's consumer price index (CPI) has risen 0.1 percent in March, compared to February 2020, moving from 133.6 in February 2020 to 133.7 in March 2020.
The main price changes during the past month (March 2020) are; kerosene becomes cheaper (-13.6%), water (-3.5%) and potatoes, vegetables and fruit (-0.8%) and gas cylinder becomes more expensive (3.8%), petrol (3%), gas oil (3%), dietary fats (0.9%) and personal care (2.3%).
Price development March 2020 compared to March 2019
The March 2020 CPI (133.7) is 3.2 percent higher than the March 2019 CPI (129.5). These figures indicate that the cost of living in March 2020 is 3.2 percent higher than in the same month of 2019. The categories that contributed most to this growth are beverages and smoking, food, and housing.
Inflation reflects the loss of monetary value, that is to say, of purchasing power, because consumer prices for products and services rise over a longer term (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 indexation 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 of CPI in the same month a year earlier. Measured over the twelve-month period through March 2020, compared to the same period a year earlier, consumer prices have risen by an average of 2.8 percent: the 12-month average CPI has moved from 129.4 in March 2019 to 133.0 in March 2020 .
Inflation reflects the loss of monetary value, that is to say, of purchasing power, because consumer prices for products and services rise over a longer term (usually 12 months). The inflation rate is therefore an indication of the average increase in the cost of living and is recommended as an indexation 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 of CPI in the same month a year earlier. Measured over the twelve-month period through March 2020, compared to the same period a year earlier, consumer prices have risen by an average of 2.8 percent: the 12-month average CPI has moved from 129.4 in March 2019 to 133.0 in March 2020 .