In Q3 2017, consumer prices on St. Eustatius were 2.1 percent higher compared to one year previously. On Bonaire, the price increase was 0.6 percent. By contrast, consumers on Saba paid 1.3 percent less for goods and services relative to Q3 2016, Statistics Netherlands (CBS) reports.
Consumer prices on Bonaire up 0.6 percent
On Bonaire, households paid 0.6 percent more on goods and services in the past quarter year-on-year, versus 0.4 percent in Q2. Household articles and appliances in particular, such as curtains, bed linen and refrigerators, became more expensive.
Electricity prices down on St. Eustatius, up on Saba
On St. Eustatius and Saba, the Authority for Consumers & Markets (ACM) has capped the rates for electricity with effect from 1 July 2017. As a result, consumers on St. Eustatius paid on average 5 percent less for electricity in Q3 compared to one year previously. Saba’s new rates were less favourable: the average consumer price for electricity rose by more than 10 percent year-on-year.
Consumer prices on St. Eustatius increased less rapidly in Q3 than in Q2, partly due to cheaper electricity. In Q3, the price increase amounted to 2.1 percent, as against 2.6 percent in Q2. In addition to electricity, tap water also became cheaper. Food prices, on the other hand, went up.
On Saba, consumer prices were down 1.3 percent in Q3 year-on-year. In Q2, they were down 1.0 percent. In other words, the average price level decreased even further despite higher electricity rates. This is mainly due to price developments of toiletries and telephony.
So far, figures for St. Eustatius and Saba hardly show any possible price effects caused by hurricane Irma. Prices were mostly observed before the arrival of Irma, in July and August. After Irma’s departure, in September, a much lower number of prices were observed since many items were not available.
Figures referring to Q3 2017 are provisional and will be definite upon publication of the figures over Q4 2017.
Source: StatLine: Caribbean Netherlands