Inflation rate 1.3 percent in May

The inflation was 1.3 percent in May. This is 0.1 of a percent point higher than in April.  Inflation is measured as the change of the consumer price index compared with the same period twelve months previously.

The price changes in May were no remarkable and had little effect on the inflation rate, on balance. The slight rise in inflation was due to the developments in car fuel and telephone prices. In May 2005 these prices went down compared to April, while this year they did not go down in May.

Contributors to the 1.3 percent inflation rate in May were the costs for housing, water and energy (0.8 percent point). Transport contributed 0.6 percent point to the inflation rate. Consumer-related taxes and government services had a lowering effect of 0.5 percent point, mainly due to the abolition of the real estate tax (OZB) for users as per 1 January 2006.

To allow eurozone comparisons, the inflation rate is also calculated according to the European harmonised method. According to this method the Dutch inflation in May was 1.8 percent, same as in April. The Netherlands has one of the lowest inflation rates in the eurozone.

According to Eurostat, the statistical office of the European Union, the inflation in the eurozone averaged  2.5 percent in May. In April the inflation rate was 2.4 percent.

The Dutch inflation rate