With 9.9 percent, St Eustatius recorded the highest inflation rate.The inflation rates for Bonaire and Saba were 5.4 and 6.4 percent respectively. For comparison's sake: the Dutch inflation rate over 2011 was 2.3 percent.
Inflation rate Bonaire
Food prices on Bonaire considerably higher in 2011. Prices for food, soft drinks and transport contributed to inflation on Bonaire. Food prices were 7.8 percent up in 2011 from 2010, largely due to meat prices.
Transport was more expensive as a result of higher airline ticket prices. Petrol prices also had an upward effect on inflation.
Petrol prices rose rapidly in the first six months of 2011. Clothes prices increased by 11 percent last year.
Inflation rate St Eustatius
Highest inflation rate recorded on St Eustatius. The most substantial price increase (9.9 percent) was recorded on St Eustatius, mainly as a result of higher transport prices early last year. Airline ticket and motor fuel prices rose dramatically. Higher energy prices and higher prices charged in the hotels and restaurants sector also contributed to inflation.
Electricity prices were higher in the months of May, June and July due to the delayed effect of higher fuel prices on energy prices. Prices charged in the sector hotels and restaurants were nearly one quarter up from one year previously.
In the first quarter of 2011, many businesses in the sector raised their prices in reaction to the introduction of the new tax system in 2011.
Inflation rate Saba
Food and transport prices push up inflation on Saba. Saba recorded an inflation rate of 6.4 percent in 2011. Transport prices contributed most to inflation. Expensive airline tickets were the main cause, just as on the other islands. Motor fuel prices also soared on Saba.
Prices of food products and soft drinks were 9 percent up from one year previously in 2011. Meat, bread and cereal products played an important part in this respect. Higher prices charged in the sector hotels and restaurants were the third important factor.
They were nearly 21 percent higher in 2011 than in the preceding year. The price increase in the sector hotels and restaurants mainly occurred in the first quarter, just as on St Eustatius.
Figures referring to the fourth quarter of 2011 and the annual figure over 2011 are provisional and will become definitive when data over the first quarter of 2012 are released. Various figures referring to the third quarter of 2011 were adjusted relative to the previous publication as a result of information received later. These figures currently have a definitive status.
Partial Integration of ‘Caribbean Netherlands’ brings high inflation rates
Prices in the Caribbean Netherlands rose dramatically in 2011 over the previous year. St. Eustatius recorded the highest inflation rate- 9.9%. The provisional inflation rate for Bonaire was 5.4%. For comparison’s sake consider that the Dutch inflation rate over the same period was 2.3%.. Prices for food, soft drinks and transport contributed the most to inflation on Bonaire. Food prices were up 7.8% in 2011 from 2010, largely due to meat prices. Transport was more expensive as a result of more expensive airline tickets. Gasolineprices also soared.Prices on clothing increased by 11% last year.