Inflation rate marginally higher

In December, Dutch inflation was 1.1 percent, i.e. an increase by 0.1 percentage points compared to November. Inflation in the Netherlands increased for the fifth month running. Inflation is defined as the consumer price index (CPI) increase relative to the same month one year previously.

The increase is predominantly caused by petrol price changes. Petrol prices were 17 percent higher in December than one year previously. In November, prices also went up, but - with an 11 percent rise - the increase was much smaller than in December. Prices of clothing articles exerted a downward effect on inflation.

With 0.5 percentage points, the transport sector accounted for nearly half of December’s inflation. 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. Food products and non-alcoholic drinks were cheaper than twelve months previously. This 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 December. Eurostat, the European statistical office, calculated an inflation rate of 0.9 percent in the Eurozone in December. Thus, Dutch inflation fell below the Eurozone average for the first time in more than a year.

Dutch inflation