Inflation rate rises to 2.9 percent

04/07/2013 15:00

Petrol raises inflation
Food lowers inflation
Dutch inflation stays much above the Eurozone rate

According to the latest figures by Statistics Netherlands, Dutch inflation rose to 2.9 percent in June. In May consumer prices were on average 2.8 percent higher than a year ago. In the first six months of 2013 the inflation rate averaged 2.9 percent.

Inflation rose mainly because of price developments in petrol, which cost 1.73 euros per litre in June. Food on the other hand had a downward effect on inflation. In June food was 3.0 percent more expensive than in June 2012 but the year-on-year price rise in May was higher.

According to the HICP index, the consumer price index used to compare inflation between countries in the Eurozone, Dutch inflation rose to 3.2 percent in June. The inflation rate in the Eurozone rose to 1.6 percent. In October 2012 Dutch inflation rose sharply because VAT was raised. Dutch inflation has remained high ever since, whereas the rate dropped within the rest of the Eurozone.