Inflation rate further up

In November 2009, the Dutch inflation rate stood at 1.0.percent, an increase by 0.3 percentage points compared to October. This is the fourth monthly increase in a row. Inflation is defined as the consumer price index (CPI) increase relative to the same month one year previously.

The increase in inflation is predominantly caused by petrol price changes. Petrol prices were higher in November 2009 than in November 2008, whereas October’s petrol price was lower than twelve months ago.

The largest contribution to inflation is made by transport, accounting for 0.4 percentage points, whereas the contribution of this article group to inflation was neutral in October. Higher prices in the sector hotels and restaurants accounted for 0.2 percentage points. Alcoholic drinks and tobacco products became more expensive, accounting for 0.1 percentage points. Price developments in the food sector had a downward effect on inflation of 0.1 percentage points.

The harmonised consumer price index (HICP) allows comparison between the inflation rates in the various member states of the European Union (EU). According to the HICP, the Netherlands had an inflation rate of 0.7 percent in November. Eurostat, the European statistical office, calculated an inflation rate of 0.5 percent in the Eurozone. In the preceding five months, there was deflation in the Eurozone.

Dutch inflation