Inflation slightly up

Dutch inflation stood at 2.0 percent in February, as against 1.9 percent in January. The increase is primarily caused by higher prices for petrol and airline tickets.

With 1.0 percentage points, housing, water and energy costs accounted for half of the increase in February. Food also contributed substantially to inflation. Food accounted for 0.5 percentage points, tobacco and alcoholic drinks for 0.3 percentage points and the sector hotels and restaurants for 0.2 percentage points. Prices of clothing and shoes, transport and communication, on the other hand, had a downward effect on inflation.

The harmonised consumer price index (HICP) allows comparison between the various member states of the European Union (EU). According to the HICP, Dutch inflation was 1.9 percent in February, i.e. 0.2 percentage points up on January’s inflation rate.

Dutch inflation was much higher in February than the overall rate in the eurozone. Eurostat, the European statistical office, calculated an inflation rate in the eurozone of 1.2 percent in February, as against 1.1 percent in January this year. Energy prices largely accounted for the difference. In most European countries, changes in oil prices are passed on to the customer more rapidly than in the Netherlands.

Inflation is calculated as the increase of the consumer price index (CPI) relative to the same month in the previous year.

Dutch inflation