Inflation rate drops to 1.9 percent

According to the latest figures released by Statistics Netherlands, the inflation rate in the Netherlands dropped marginally to 1.9 percent in February 2011. In January this year, consumer prices were 2.0 percent up on January 2010.

Prices for communication services pushed down inflation. In February 2010, prices for telephone and Internet services were raised. This had an upward effect on inflation during the past twelve months, but the effect has worn off now.

Food and soft drinks became more expensive, but the price increase remained below the level of inflation. Food prices were 1.4 percent up on one year ago in February. The price increase was chiefly due to higher prices for fresh fruits and coffee.

Consumers paid much more for petrol and diesel. In the course of February, fuel prices have soared. The litre price of Euro95 was 10 percent higher in February than in February 2010 and averaged 1.597 euro. The litre price for diesel fuel at the petrol station averaged 1.313 euro in February.

Dutch inflation according to the European harmonised method (HICP) was 2.0 percent in February. Eurostat reports that inflation in the eurozone had reached 2.4 percent in February, an increase by 0.1 percentage points relative to January. Since December 2009, the eurozone price increase has continually been higher than in the Netherlands.