Inflation in the Caribbean Netherlands

Consumer price index (CPI) Caribbean Netherlands, first quarter (Q1) published by RCN

1. Caribbean Netherlands inflation rises

Inflation was up on all three islands of the Caribbean Netherlands in the first quarter of 2014. On Bonaire it was 1.3 percent, on St Eustatius 2.5 percent and on Saba  1.4 percent.

Inflation in the Caribbean Netherlands

Food and clothing prices push up inflation on Bonaire
On Bonaire, inflation was 1.3 percent in the first quarter. This is 0.1 of a percentage point higher than in the fourth quarter of 2013. Higher prices for food and clothing were the main factors in the increase. Fruit and women’s clothing in particular cost more. Electricity prices fell slightly, and had a downward effect on inflation.

Inflation rises substantially on St Eustatius
On St Eustatius, inflation rose to 2.5 percent in the first quarter, up from 2.1 percent in the fourth quarter of 2013. The increase was mainly the result of higher electricity prices, although food – especially bread and cereals – also cost more. Prices in hotels and restaurants also had an upward effect on inflation. Developments in prices of air tickets curbed inflation on St Eustatius, as the effect of the hefty increase in the first quarter of 2013 has now ended.

Saba inflation rate slightly higher
In the first quarter of 2014, inflation on Saba was 1.4 percent, 0.2 of a percentage point higher than in the previous quarter. Just as on St Eustatius, it was mainly food (especially bread and cereal products and fresh vegetables) and electricity prices that pushed up inflation. On Saba, however, the effects were smaller. Air tickets raised inflation on Saba, while toiletries had a downward effect.

Provisional figures and new weights
The figures for the first quarter of 2014 are provisional and will become definite when figures for the second quarter of 2014 are published From the first quarter of 2014, the weights of the products and services in the CPI of Bonaire, St Eustatius, and Saba have been adjusted.
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Source:
0.StatLine: Caribbean Netherlands
0.Consumer price index for Bonaire since 1973
0.What is inflation?

New weights for CPI Caribbean Netherlands

 From the first quarter of 2014, the CPIs of Bonaire, St Eustatius and Saba are based on newly calculated weights for products and services included in the indices. The weights are based on the Budget Survey conducted in 2013, and thus reflect the situation in 2013. Previously, the weights had mainly been based on spending patterns as measured in 2005. In addition, at the main level, the weighting schemes did not differ between the individual islands. The schemes have now been adjusted for each island separately.

The main changes are:
0.Food and non-alcoholic drinks now account for more on all three islands
0.The weight of housing and energy has been increased for Bonaire and St Eustatius.
0.The share of telephone and the internet has been increased
0.Recreation and culture have been reduced on all islands
0.The weights of clothing and of soft furnishings, household appliances etc. have been slightly lowered for all three islands

Weights of products and services in the consumer price index

	Bonaire	St Eustatius	Saba	CPI 2013 (all islands)
	% of total
Food and non-alcoholic drinks	18,4	22,1	25,5	16,4
Alcoholic drinks and tobacco	1,4	1,3	1,5	2,5
Clothes and shoes	3,5	4,5	4,2	6,9
Home maintenance and repairs, water and energy	17,8	14,5	10,9	13,3
Furnishings, household appliances and daily home maintenance	5,3	5,8	5,6	8,1
Health	1,8	1,4	1,7	2,8
Transport	19,1	14,8	14,4	17,0
Communication	8,8	10,7	8,7	5,8
Recreation and culture	3,5	5,4	3,4	9,3
Education	0,6	1,5	2,2	0,6
Hotels and restaurants etc.	6,5	8,2	7,3	6,2
Miscellaneous goods and services	13,4	9,6	14,4	11,1
TOTAL CONSUMPTION EXPENDITURE	100,0	100,0	100,0	100,0