How have prices in the Caribbean Netherlands developed?
Inflation, the annual rate of change of the consumer price index, has been rising in the Caribbean Netherlands since the beginning of 2021. Among the three islands, Bonaire has seen the highest inflation rate and St Eustatius the lowest.
| Year | Quarter | Bonaire | St Eustatius | Saba |
|---|---|---|---|---|
| 2017 | Q1, 2017 | 0.1 | 1.1 | -1.0 |
| 2017 | Q2, 2017 | 0.4 | 2.6 | -1.0 |
| 2017 | Q3, 2017 | 0.7 | 2.2 | -1.3 |
| 2017 | Q4, 2017 | 1.1 | 1.8 | 2.4 |
| 2018 | Q1, 2018 | 3.9 | 2.0 | 2.9 |
| 2018 | Q2, 2018 | 3.0 | 1.2 | 3.2 |
| 2018 | Q3, 2018 | 3.5 | 1.1 | 4.4 |
| 2018 | Q4, 2018 | 3.4 | 1.1 | 0.0 |
| 2019 | Q1, 2019 | 0.7 | 0.7 | 0.6 |
| 2019 | Q2, 2019 | 1.1 | 0.4 | 0.5 |
| 2019 | Q3, 2019 | 1.2 | 0.7 | 0.3 |
| 2019 | Q4, 2019 | 2.2 | 1.0 | 0.8 |
| 2020 | Q1, 2020 | 1.0 | 1.2 | 0.4 |
| 2020 | Q2, 2020 | -1.0 | -0.8 | -0.8 |
| 2020 | Q3, 2020 | -4.8 | -3.3 | -1.6 |
| 2020 | Q4, 2020 | -5.2 | -3.2 | -0.8 |
| 2021 | Q1, 2021 | -3.2 | -4.1 | -1.3 |
| 2021 | Q2, 2021 | 0.3 | -1.2 | 1.0 |
| 2021 | Q3, 2021 | 4.3 | 2.4 | 3.2 |
| 2021 | Q4, 2021 | 5.7 | 2.7 | 4.0 |
| 2022* | Q1, 2022* | 9.9 | 4.9 | 6.7 |
| * Provisional figures | ||||
On Bonaire, inflation surged from –3.2 percent in Q1 2021 to 9.2 percent in Q1 2022. Inflation on St Eustatius rose from –4.1 to 4.9 percent, while on Saba, the inflation rate went up from –1.3 to 6.7 percent.
In 2020, the three islands had low inflation, mainly thanks to government subsidies on electricity, water and telecommunications (relief measures in the context of the coronavirus epidemic). The relief measures were in place during most of 2021. The CPI increases in 2021 were largely due to rising energy prices.
| Year | Quarter | Bonaire | St Eustatius | Saba |
|---|---|---|---|---|
| 2017 | Q1, 2017 | -2.9 | 0.4 | -0.2 |
| 2017 | Q2, 2017 | -1.6 | 1.6 | -0.4 |
| 2017 | Q3, 2017 | -1.1 | -1.0 | 1.1 |
| 2017 | Q4, 2017 | 0.6 | -1.6 | 7.9 |
| 2018 | Q1, 2018 | 7.6 | -1.7 | 8.4 |
| 2018 | Q2, 2018 | 5.5 | -1.8 | 9.6 |
| 2018 | Q3, 2018 | 8.9 | 2.8 | 10.3 |
| 2018 | Q4, 2018 | 8.8 | 2.8 | 2.9 |
| 2019 | Q1, 2019 | 2.4 | 1.7 | 2.0 |
| 2019 | Q2, 2019 | 4.5 | 1.2 | 1.3 |
| 2019 | Q3, 2019 | 1.1 | -0.6 | -1.8 |
| 2019 | Q4, 2019 | 1.7 | -0.4 | -1.5 |
| 2020 | Q1, 2020 | -4.2 | 1.3 | -1.5 |
| 2020 | Q2, 2020 | -8.4 | -2.4 | -5.0 |
| 2020 | Q3, 2020 | -12.8 | -9.8 | -9.0 |
| 2020 | Q4, 2020 | -12.9 | -10.4 | -8.6 |
| 2021 | Q1, 2021 | -5.9 | -8.5 | -6.8 |
| 2021 | Q2, 2021 | 0.8 | -4.1 | -2.1 |
| 2021 | Q3, 2021 | 7.5 | 7.6 | 6.4 |
| 2021 | Q4, 2021 | 10.7 | 9.1 | 7.7 |
| 2022* | Q1, 2022* | 24.4 | 10.7 | 12.0 |
| * Provisional figures | ||||
Prices of transportation services and petrol
Prices of transportation include for example cars, fuels and airfares. In Q1 2022, transportation was 8.2 percent more expensive on Bonaire year on year; for Saba the increase was 10.3 percent and for St Eustatius 8.4 percent.
Prices of petrol and diesel, which have a major impact on transportation prices, have increased steadily from the beginning of 2021 onwards. On Bonaire, petrol was 35 percent more expensive in Q1 2022 year on year; for St Eustatius this was 30 percent and for Saba 29 percent.
| Year | Quarter | Bonaire | St Eustatius | Saba |
|---|---|---|---|---|
| 2017 | Q1, 2017 | 4.2 | 5.1 | 0.7 |
| 2017 | Q2, 2017 | 4.2 | 6.5 | 0.2 |
| 2017 | Q3, 2017 | 2.1 | 7.9 | -0.7 |
| 2017 | Q4, 2017 | 4.6 | 6.1 | -2.4 |
| 2018 | Q1, 2018 | 4.0 | 5.3 | -2.5 |
| 2018 | Q2, 2018 | 4.0 | 3.7 | -1.0 |
| 2018 | Q3, 2018 | 5.6 | 1.5 | 0.0 |
| 2018 | Q4, 2018 | 3.8 | 1.3 | 1.5 |
| 2019 | Q1, 2019 | 1.1 | 1.5 | 4.5 |
| 2019 | Q2, 2019 | 1.8 | 1.9 | 3.5 |
| 2019 | Q3, 2019 | 3.0 | 1.7 | 5.3 |
| 2019 | Q4, 2019 | 5.7 | 3.3 | 5.2 |
| 2020 | Q1, 2020 | 8.5 | 2.7 | 2.2 |
| 2020 | Q2, 2020 | 6.5 | -0.8 | 1.5 |
| 2020 | Q3, 2020 | -3.3 | -1.5 | -1.1 |
| 2020 | Q4, 2020 | -5.4 | -2.3 | -2.7 |
| 2021 | Q1, 2021 | -5.3 | -3.0 | -1.6 |
| 2021 | Q2, 2021 | -1.7 | 4.5 | 4.2 |
| 2021 | Q3, 2021 | 7.1 | 6.9 | 7.4 |
| 2021 | Q4, 2021 | 8.5 | 7.9 | 10.8 |
| 2022* | Q1, 2022* | 8.2 | 8.4 | 10.3 |
| * Provisional figures | ||||
Prices of food and non-alcoholic beverages
Food prices have been increasing in the Caribbean Netherlands since Q1 2021 and the rate of change is very similar among the three islands. On Bonaire, food was 4.9 percent more expensive in Q1 2022 than one year previously. For St Eustatius and Saba this was 4.7 percent.
| Year | Quarter | Bonaire | St Eustatius | Saba |
|---|---|---|---|---|
| 2017 | Q1, 2017 | -0.8 | 0.6 | -4.2 |
| 2017 | Q2, 2017 | -0.7 | 3.4 | -4.7 |
| 2017 | Q3, 2017 | 0.4 | 7.4 | -2.6 |
| 2017 | Q4, 2017 | -0.3 | 6.5 | 1.6 |
| 2018 | Q1, 2018 | 3.5 | 7.0 | 2.0 |
| 2018 | Q2, 2018 | 2.5 | 6.1 | 1.8 |
| 2018 | Q3, 2018 | 0.7 | -0.3 | 2.9 |
| 2018 | Q4, 2018 | 1.2 | -0.5 | -2.0 |
| 2019 | Q1, 2019 | -0.3 | -1.0 | 1.9 |
| 2019 | Q2, 2019 | 2.6 | -2.4 | 2.2 |
| 2019 | Q3, 2019 | 4.2 | -0.8 | 2.0 |
| 2019 | Q4, 2019 | 4.6 | 0.4 | 1.3 |
| 2020 | Q1, 2020 | 3.4 | 0.0 | 0.7 |
| 2020 | Q2, 2020 | 1.0 | 1.0 | 1.7 |
| 2020 | Q3, 2020 | 0.2 | 1.2 | 1.7 |
| 2020 | Q4, 2020 | 1.0 | 2.5 | 3.5 |
| 2021 | Q1, 2021 | 1.3 | 1.9 | 2.0 |
| 2021 | Q2, 2021 | 2.8 | 1.8 | 1.9 |
| 2021 | Q3, 2021 | 3.5 | 2.9 | 2.9 |
| 2021 | Q4, 2021 | 3.4 | 3.2 | 3.2 |
| 2022* | Q1, 2022* | 4.9 | 4.7 | 4.7 |
| * Provisional figures | ||||