Inflation in the Caribbean Netherlands rising further

News item | 21-07-2022 | 17:42

On St Eustatius, the inflation rate rose from 4.9 percent in Q1 to 7.7 percent in Q2 2022. It was mainly the rising prices of food, fuels and flights that caused the inflation increase on the island. On Saba, prices were up by 8.2 percent year-on-year in Q2, versus 6.7 percent in Q1. Here as well, the increase can be attributed to higher food, fuel and flight prices.

Prices on Bonaire 1.8 percent up on the previous quarter

Relative to Q1 2022, prices on Bonaire rose by 1.8 percent in Q2 2022. This increase was mainly caused by the rise in food prices (+2.2 percent). Flights increased 8.5 percent in price, products for the maintenance of homes by 5.5 percent and insurances by 4.8 percent. Education became 7.0 percent more expensive.

3.6-percent price increase on Statia relative to the previous quarter

On St Eustatius, consumer prices rose by 3.6 percent in Q2 relative to Q1 2022. Food prices rose by 2.8 percent, while transportation went up 12.4 percent in price. The latter increase is attributable to higher prices of cars (+4.6 percent), petrol (+13.1 percent) and flights (+14.8 percent). Prices of furniture and household appliances increased as well.

Saba recorded 2.8-percent q-o-q price increase

In Q2 2022, consumers on Saba paid on average 2.8 percent more for goods and services than in the previous quarter.

Food prices rose by 3 percent in the past quarter. Transportation went up 10.6 percent in price on Saba. Cars became 4.6 percent more expensive and petrol 7.4 percent. Flights saw a price increase of 11.2 percent on the previous quarter.

Soaring egg prices

A striking development was the price increase of eggs in the past quarter. On all three islands, egg prices rose substantially compared to the first quarter. On St Eustatius, eggs became 51.7 percent more expensive, while on Saba and Bonaire prices rose by 28.1 and 16.3 percent, respectively. On 17 May 2022, the Public Entity Bonaire raised the retail price of locally produced chicken eggs. See article (Dutch only).