Inflation slightly down in June

Dutch inflation fell to 1.7 percent in June. This is slightly less than in preceding months. In March, April and May inflation was 1.8 percent. Inflation is calculated as the increase in the consumer price index (CPI) compared with the same month one year previously.

Lower petrol prices in particular had a downward effect on the inflation rate. On the other hand, an increase in prices for telecommunication services had an upward effect on inflation in June.

With 0.8 of a percentage point, the costs of housing, water and energy were the main contributors to inflation in June. Clothes and footwear contributed 0.2 of a percentage point to inflation, just as the hotels and restaurants sector. Price developments of communication and recreation and of culture both reduced inflation by 0.1 of a percentage point.

The harmonised consumer price index (HICP) allows comparison between the member states of the European Union. According to the HICP method, Dutch inflation  fell to 1.8 percent in June. This is 0.2 of a percentage point less than in May. Inflation in the eurozone was 1.9 percent in June, so the Dutch inflation rate is slightly below this European average. In May, the inflation rate in the Netherlands slightly exceeded the eurozone average for the first time in almost four years.

Dutch inflation