Over the period of twelve months ending with August 2010, average consumer prices have increased by 3.6 percent compared to the same period one year earlier.
This appears from data released by the Department of Statistics (STAT) today.
Price changes between June and August 2010.
In August, consumer prices in Sint Maarten were 0.3 percent lower than in June. The price index dropped slightly from 111.5 to 111.2. One must go back till December 2008 to observe the former price index decrease, when the price index took a dive of 3.9 percent, tumbling from 108.3 to 104.1.
Of the nine consumption categories three became cheaper in August: Housing (-0.9%), Food (-0.2%) and Beverages and Tobacco (-0.2%), whilst five became more expensive and one -Recreation, development and education- stabilized in price. The five consumption categories that became more expensive are: Miscellaneous goods and services (+0.7%), Clothing and footwear (+0.5%), Transportation and communication (+0.3%), Household furnishing and appliances (+0.2%) and Medical care (+0.1%).
Looking at remarkable price changes of specific products and services, five consumption categories stand out. This will be highlighted in the following, starting with the three largest consumption categories Housing, Transportation and communication and Food, which account for respectively 39, 20 and 10 percent of the total consumer expenditures in Sint Maarten.
Starting with the consumption category Food, especially worth mentioning are the price decreases of eggs (-22%), grapes, prunes etc (-14%) and white rice (-3%) on the one hand and the price increases of spareribs (+13%) and t-bone-steak (+12%) on the other hand.
Mainly due to the significant price drop of eggs, the food group "diary products became 2.1 percent cheaper, whilst the price drop of grapes, prunes etc. was the main contributor to the food group "potatoes, vegetables and fruits" becoming 0.9 percent cheaper. In contrast, the food group "meat and fish" became 0.7 percent more expensive, mainly due to the two price increases of meat mentioned above.
The specific product or service with by far the largest influence on the consumer price level in August in Sint Maarten is electricity, which became 7 percent cheaper. This price drop triggered the fall of "energy expenses", part of the consumption category Housing, with 6 percent.
In contrast, fuel (+4%) became more expensive, hence raising "the expenses for own transport vehicles" -part of the consumption category Transportation and communication- by 1.3 percent.
The consumption category Clothing and footwear was also characterized by an important price rise: men's shirts became 5 percent more expensive. This price increase was the main cause for the subgroup clothing to become 0.5 percent more expensive.
Last but not least, the consumption category Miscellaneous products and services was highlighted by the price increase of a men's haircut with 16 percent, hence raising the price of the subgroup "personal body care" by 2 percent.
