Bonaire’s inflation rate over the fourth quarter of 2013 was 1.2 percent, i.e. considerably below the level recorded in the third quarter. The inflation rate of 1.2 percent on Saba was also lower than in the third quarter, but the rate on St Eustatius increased substantially to 2.1 percent.
Inflation in the Dutch Caribbean
Inflation rate Bonaire down due to water and electricity prices
The inflation rate on Bonaire fell noticeably from 1.8 percent in the third quarter of 2013 to 1.2 percent in the last quarter. Water and electricity price developments play an important part in this respect. In the fourth quarter of 2012, water and electricity prices were raised substantially forcing inflation up during the next twelve months, but the effects of the price increase had worn off in the fourth quarter of 2013.
Inflation rate St Eustatius up to 2.1 percent
On St Eustatius, the rate rose to 2.1 percent in the fourth quarter, an increase by 0.4 percentage points relative to the third quarter. This is the result of higher airline ticket prices. Housing, water and energy curbed inflation.
Inflation marginally down on Saba
The average inflation rate on Saba over the fourth quarter of 2013 was 1.2 percent, i.e. 0.2 percentage points down from the third quarter. Prices of electricity, food products and recreational activities had a downward effect on inflation.
Inflation rate Dutch Caribbean in 2013 much lower than in 2012
The average annual inflation rate in the Dutch Caribbean was much lower in 2013 than in 2012. The rate peaked on Bonaire, St Eustatius and Saba in 2011, but subsequently started to fall in 2012.
The average inflation rate on Bonaire over 2013 was 1.7 percent, 1.2 percentage points below the level over 2012. Food products were 1.1 percent cheaper on Bonaire last year than in 2012. This was the main cause of the decline.
The average annual inflation rate on St Eustatius over 2013 was 2.3 percent, considerably below the level of 5.3 percent over 2012. Lower prices for water and energy in 2013 relative to 2012 had a downward effect on inflation. Transport costs also helped to curb inflation.
The average inflation rate on Saba was 1.2 percent last year, versus 3.7 percent in 2012. Food prices were 1.3 percent up from 2012, but - with 7.5 percent - the price increase was much higher in 2012. Reduced prices for water and energy compared to 2012 also contributed to the lower inflation rate.
The figures over the fourth quarter and the annual average over 2013 are provisional. Definitive figures will become available when figures over the first quarter of 2014 are published.
This article is also available in Papiamento.