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How have prices developed in the Caribbean Netherlands?

In 2022, consumer prices for goods and services in the Caribbean Netherlands increased compared to the previous year, as indicated by the change in the consumer price index. Among the three islands, St Eustatius had the lowest inflation rate, while Bonaire experienced the highest.

CPI, annual rate of change (year-on-year % change)
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 9.2 4.9 6.7
2022 Q2, 2022 9.4 7.7 8.2
2022 Q3, 2022 12.2 9.0 9.7
2022 Q4, 2022 8.1 9.1 9.7
2023 Q1, 2023 4.5 8.0 7.0
2023 Q2*, 2023 4.6 3.3 5.2
* Provisional figures

In 2022, the average price level on Bonaire rose by 9.7 percent compared to 2021, while prices on St Eustatius were 7.7 percent and on Saba 8.6 percent higher. These increases were primarily driven by higher prices for food, transportation, housing, water and energy. From the third quarter onwards until the second quarter of 2023, inflation rates decreased on all three islands.

The decrease was strongest on Bonaire and can mainly be attributed to the subsidy on the standing charge for electricity that came into effect on 1 November, 2022.

Housing, water and energy prices (year-on-year % change)
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 24.2 10.7 12.0
2022 Q2, 2022 23.6 12.9 11.8
2022 Q3, 2022 28.1 14.8 12.8
2022 Q4, 2022 15.8 13.9 18.2
2023 Q1, 2023 0.2 7.8 10.1
2023 Q2*, 2023 0.3 3.8 6.5
* Provisional figures

Prices for food and non-alcoholic beverages

Food prices have been on a steady rise since the start of 2020 and starting from the first quarter of 2022, there has been a notable acceleration in food prices across all three islands. On Bonaire, food prices increased by 9.9 percent in the second quarter of 2023 compared to the same period in the previous year. On St Eustatius, they rose by 7.9 percent relative to the second quarter of 2022. Saba saw a year-on-year increase of 9.0 percent.

Notably, there have been significant price increases for eggs. On Bonaire, egg prices rose by 50 percent in the second quarter of 2023 compared to the same period in the previous year. For Saba, the increase was 28 percent. After a period of steady increase, egg prices on St Eustatius decreased by 27.3 percent in the second quarter of 2023 compared to the same period one year previously.

50% rise in egg prices on Bonaire in 2023
Prices of food and non-alcoholic beverages (year-on-year % change)
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
2022 Q2, 2022 5.7 7.4 7.2
2022 Q3, 2022 8.8 7.6 7.9
2022 Q4, 2022 9.8 8.9 10.6
2023 Q1, 2023 11.1 10.0 10.9
2023 Q2*, 2023 9.9 7.9 9.0
* Provisional figures

More information on prices (Dutch only)

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CBS in the Caribbean Netherlands

CBS opened an office on Bonaire in 2010. The Bonaire office is responsible for all statistics referring to the three islands of the Caribbean Netherlands: Bonaire, St Eustatius and Saba. Topics include prices, population, labour, income, the economy, tourism and trade.

Publications can be found in the dossier Caribbean Netherlands.

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