In Q4 2023, consumer goods and services on Bonaire were 4.2 percent more expensive than one year previously. The inflation rate was still 1.9 percent in Q3. This is reported by Statistics Netherlands (CBS) on the basis of the Caribbean Netherlands consumer price index.

On St Eustatius, prices rose by 1.0 percent year on year in Q4 2023, after remaining stable in Q3. On Saba, inflation stood at 1.9 percent in Q4. This was 2.8 percent in the previous quarter.

Prices 0.3 percent up on Bonaire relative to the previous quarter

In Q4, prices on Bonaire increased by 0.3 percent relative to Q3. This was partly due to rising transportation costs: petrol went up by 0.4 percent and diesel by 2.3 percent. In addition, prices of clothing and footwear increased by 1.6 percent. Prices of toiletries rose by 2.8 percent relative to Q3.

Prices 0.1 percent lower on St Eustatius quarter on quarter

In Q4 2023, consumer prices on St Eustatius fell by 0.1 percent relative to the previous quarter. Prices of clothing, home appliances and furniture fell relative to Q3.

On the other hand, the price development of fuels had an upward effect on the development of consumer prices. For example, petrol went up by 5.4 percent relative to the previous quarter.

Prices unchanged on Saba relative to the previous quarter

On average, consumer prices on Saba remained the same in Q4 as in Q3, despite the rising cost of transportation. Petrol prices rose by 9.9 percent in Q4 relative to the previous quarter; airline tickets were up by 10.4 percent, while prices of other transport services showed an increase of 14.0 percent relative to Q3.

This increase was offset by the drop in prices of home maintenance, namely 2.6 percent relative to the previous quarter. In addition, prices of clothing and footwear fell by 2.3 percent.

Average price development 2023

In 2023, Bonaire saw annual average price levels increase by 3.8 percent on the previous year. The year-on-year increase was 2.5 percent on St Eustatius and 4.2 percent on Saba. On all three islands, this was due to higher prices of housing, water and energy, transportation, and food. On Bonaire, health-related products and services became more expensive, while on St Eustatius and Saba, prices of education rose.

Provisional figures

Based on information received at a later stage, the provisional figures for St Eustatius over Q3 2023 have been adjusted. Figures over Q4 2023 and therefore also the annual figures over 2023 are provisional. They will become definitive upon publication of the figures over Q1 2024.

Papiamentu

A Papiamentu 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

StatLine – Caribbean Netherlands: consumer price index (CPI) 2017=100

https://opendata.cbs.nl/#/CBS/en/dataset/84046ENG