Inflation up to 2.3 percent

09/08/2012 15:00

Rent and new cars push up inflation
Average rent increase 2.8 percent
Natural gas reduces inflation

Figures published by Statistics Netherlands today show that Dutch inflation rose to 2.3 percent in July, 0.2 of a percent point up on June.

The increase in inflation was caused mainly by rises in rent levels and new tax regulations for the purchase of new cars. Package holidays also had an upward effect on inflation.

In the Netherlands, most rent increases take effect in the month of July. This year the average rent increase was 2.8 percent, one percent point higher than last year. For most rented homes the maximum permitted rent increase this year is 2.3 percent. Substantially larger increases are possible however, for example in the case of new tenancy, and pushed up the average to well over 2.3 percent.

Prices of natural gas had a downward effect on inflation. Although natural gas cost 5.1 percent more than in July last year, the year-on-year increase in June was still 8.0 percent. Inflation was further curbed by developments in the prices of clothes and fees for mobile phone calls from abroad.

Inflation in the Netherlands calculated according to the European harmonised method (HICP) was 2.6 percent. This is 0.1 of a percent point higher than in June. Inflation in the eurozone was unchanged from June, at 2.4 percent.