Inflation rate Bonaire slips to 0.1 percent

19/04/2017 15:35
On the basis of the consumer price index (CPI), Statistics Netherlands (CBS) reports that the rate of inflation on Bonaire slipped to 0.1 percent in Q1 2017. Year-on-year, prices of goods and services also decreased on Saba (1.0 percent). On St Eustatius inflation climbed to 1.1 percent.

Lower inflation on Bonaire

In Q1 2017 prices of goods and services on Bonaire were only marginally higher than in Q1 2016 (0.1 percent); the rate in Q4 2016 was 0.5 percent. Price developments for natural gas, clothing and food products pulled inflation down. Products like fresh vegetables and cheese became cheaper. On an annual basis, the petrol price rose by more than 6 percent in this quarter, which had an upward effect on inflation.

Higher inflation on St Eustatius

The rate on St Eustatius jumped to 1.1 percent, up from 0.2 percent in Q4 2016. Food products and petrol were the main contributors to the increase. The average price of petrol was more than 17 percent up in Q1 this year from Q1 2016. The natural gas price also had an upward effect on inflation. Although the natural gas price was 2.3 percent lower than one year previously, the year-on-year price drop in Q4 2016 was much more substantial.

Inflation on Saba further down

In Q1 2017, households on Saba on average paid 1.0 percent less for the goods and services included in the ‘shopping basket’ compared to one year previously, whereas in Q4 2016, goods and services in the basket were 0.3 percent cheaper.
The lower inflation rate was mainly due to food price developments. Prices of fresh vegetables, for example, were more than 40 percent lower and the price of eggs was more than 20 percent lower than a year ago. Price developments for toiletries pushed inflation upwards.

Provisional figures

The status of figures referring to Q1 2017 is provisional. Final figures will be presented simultaneously with the publication of figures over Q2 2017.

Papiamento

A Papiamento translation of this news release can be obtained from Statistics Netherlands’ office on Bonaire by sending a request via email to: caribischnederland@cbs.nl.

Sources

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