According to figures released by Statistics Netherlands today, inflation on Bonaire was 1.5 percent in the third quarter of 2014. This is lower than the 2.2 percent measured in the second quarter. Prices of clothes and mobile telephony tempered inflation on Bonaire. On St Eustatius and Saba, on the other hand, inflation rose strongly: to 3.4 percent and 2.6 percent respectively. Higher food prices pushed up inflation on these two islands.
Inflation in the Caribbean Netherlands
Inflation drops sharply on Bonaire
Inflation fell substantially on Bonaire in the third quarter, to 1.5 percent. In the second quarter inflation was still 2.2 percent. There are various reasons for this decrease. One is developments in clothes prices. Although clothes cost 9.3 percent more in the third quarter than twelve months previously, in the second quarter the year-on-year increase was even larger. Price developments for mobile telephony also had a downward effect on inflation. A third reason is that the tariff increase for cable TV in the third quarter of 2013 no longer had an effect. Higher food prices on the other hand, had an upward effect on inflation.
Inflation on St Eustatius at highest level since early 2013
On St Eustatius inflation rose to 3.4 percent. This is 0.5 of a percentage point higher than in the preceding quarter, bringing inflation to its highest level since the first quarter of 2013. Among other things the increase was connected with the increase in prices of household appliances. Electricity, too, cost more. In addition, prices of food rose slightly, which also had a slight upward effect on inflation.
Food prices push up inflation on Saba
Inflation on Saba rose substantially, to 2.6 percent. This is 0.6 of a percentage point higher than in the second quarter of this year, and the highest rate of inflation since the fourth quarter of 2012. Higher food prices accounted for most of this increase. Food cost 4.4 percent more in the third quarter than in the same quarter last year, while in the second quarter the year-on-year increase was still only 2.9 percent. Prices of household appliances and tools, too, had a slight upward effect on inflation.
The figures for the third quarter of 2014 are provisional and will become definite when figures for the fourth quarter of 2014 are published.
StatLine: Caribbean Netherlands
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