Inflation rate remains stable

Dutch inflation was 2.1 percent in June 2012, equalling May’s inflation rate. Inflation is defined as the increase in the consumer price index (CPI) in a particular month compared to the same month in the previous year.

Prices of housing, water, energy and transport contributed 0.6 and 0.3 percentage points respectively to June’s inflation rate of 2.1 percent. Food and non-alcoholic beverages contributed 0.2 percentage points, just like recreation and culture and consumer spending abroad. Other goods and services also contributed to inflation, but to a lesser extent.

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 method, the Dutch inflation rate in June was 2.5 percent. Eurostat, the European statistical office, calculated an inflation rate of 2.4 percent for the eurozone. Inflation remained stable in the Netherlands as well as in the eurozone. The level of inflation in the eurozone is one of the main guidelines for the European Central Bank (ECB) to change or refrain from changing the interest rate. According to the ECB, prices in the eurozone are stable, if the inflation rate is close to 2 percent.

Dutch inflation rate

More figures can be found in the Business cycle dossier.

For more information on Dutch inflation, see Statistics Netherlands’ online video on YouTube.