Consumer price increase on Bonaire slows down
In Q1 2019, consumer prices on Bonaire were 0.7 percent higher than one year previously. The increase was still 3.4 percent in the previous quarter.
©We Share Bonaire/Jan Wachtmeester
Prices also rose on St. Eustatius and Saba, by 0.7 percent and 0.6 percent year-on-year respectively. This is reported by Statistics Netherlands (CBS) on the basis of the consumer price index (CPI).
On Bonaire, CPI-based inflation was tempered by the price development of electricity. In Q1 2019, electricity was on average 10.5 percent cheaper than one year previously. In addition, petrol was down in price while average price levels of clothing and footwear declined year-on-year as well. On the other hand, drinking water rose in price by nearly 44 percent over a period of 12 months. As of 1 April 2018, maximum rates were introduced by the Netherlands Authority for Consumers and Markets (ACM). These were raised as of 1 January 2019.
Consumer prices on Statia 0.7 percent up
In Q1, consumer prices on St. Eustatius were 0.7 percent up year-on-year; this was still 1.1 percent in the previous quarter. The increase was slowed down by price developments of clothing and drinking water. Drinking water is currently almost 4 percent cheaper than one year previously. The price development of electricity had an upward effect on consumer prices. Electricity prices were reduced as of 1 January 2019. Nevertheless, electricity is still over 4 percent more expensive than in Q1 2018.
Prices further up on Saba
In Q1 2019, prices of goods and services on Saba were on average 0.6 percent up year-on-year, whilst still being at the same level in Q4 2018. Fresh fruit and vegetables increased in price. Petrol and airfares had an upward effect on consumer prices as well. Petrol, for example, was almost 14 percent more expensive year-on-year; airfares went up by more than 5 percent on average.
Development of electricity prices for consumers
As of 1 July 2017, ACM set maximum distribution rates for electricity on Saba and St Eustatius. On both islands, this had different consequences for consumers. On Statia, electricity prices have dropped by 9.0 percent over the past five years; on Saba they have increased by 8.9 percent.
On Bonaire, ACM introduced maximum rates as of 1 April 2018. Since 2018, the price of electricity has fluctuated substantially. Over the past five years, electricity has become 10.3 percent cheaper for consumers on the island.