Consumer prices 2.7 percent up in December

09/01/2020 15:00

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Statistics Netherlands (CBS) reports that the consumer price index (CPI) was 2.7 percent higher in December than in the same month one year previously. In November, prices of consumer goods and services were up by 2.6 percent year-on-year. In 2019, consumer prices rose by 2.6 percent on average relative to the previous year, the sharpest increase after 2002

The consumer price index (CPI) is an important indicator for inflation, but not the only one. It is an index for price changes in a basket of consumer goods and services, such as groceries, clothing, petrol, rent and insurance premiums. Inflation is a broader term which covers more than consumer goods and services; for example, prices of owner-occupied houses, manufactured products, shares and gold are also subject to change.

Consumer price index (CPI)
Year	Month	Year-on-year change (year-on-year % change)
2014	January	1.4
2014	February	1.1
2014	March	0.8
2014	April	1.2
2014	May	0.8
2014	June	0.9
2014	July	0.9
2014	August	1
2014	September	0.9
2014	October	1.1
2014	November	1
2014	December	0.7
2015	January	0
2015	February	0.2
2015	March	0.4
2015	April	0.6
2015	May	1.1
2015	June	1
2015	July	1
2015	August	0.8
2015	September	0.6
2015	October	0.6
2015	November	0.7
2015	December	0.7
2016	January	0.6
2016	February	0.6
2016	March	0.6
2016	April	0
2016	May	0
2016	June	0
2016	July	-0.2
2016	August	0.2
2016	September	0.1
2016	October	0.4
2016	November	0.6
2016	December	1
2017	January	1.7
2017	February	1.8
2017	March	1.1
2017	April	1.6
2017	May	1.1
2017	June	1.1
2017	July	1.3
2017	August	1.4
2017	September	1.5
2017	October	1.3
2017	November	1.5
2017	December	1.3
2018	January	1.5
2018	February	1.2
2018	March	1
2018	April	1.1
2018	May	1.7
2018	June	1.7
2018	July	2.1
2018	August	2.1
2018	September	1.9
2018	October	2.1
2018	November	2
2018	December	2
2019	January	2.2
2019	February	2.6
2019	March	2.8
2019	April	2.9
2019	May	2.4
2019	June	2.7
2019	July	2.5
2019	August	2.8
2019	September	2.6
2019	October	2.7
2019	November	2.6
2019	December	2.7

Consumer price index (CPI)
Year	Month	Year-on-year change (year-on-year % change)
2014	January	1.4
2014	February	1.1
2014	March	0.8
2014	April	1.2
2014	May	0.8
2014	June	0.9
2014	July	0.9
2014	August	1
2014	September	0.9
2014	October	1.1
2014	November	1
2014	December	0.7
2015	January	0
2015	February	0.2
2015	March	0.4
2015	April	0.6
2015	May	1.1
2015	June	1
2015	July	1
2015	August	0.8
2015	September	0.6
2015	October	0.6
2015	November	0.7
2015	December	0.7
2016	January	0.6
2016	February	0.6
2016	March	0.6
2016	April	0
2016	May	0
2016	June	0
2016	July	-0.2
2016	August	0.2
2016	September	0.1
2016	October	0.4
2016	November	0.6
2016	December	1
2017	January	1.7
2017	February	1.8
2017	March	1.1
2017	April	1.6
2017	May	1.1
2017	June	1.1
2017	July	1.3
2017	August	1.4
2017	September	1.5
2017	October	1.3
2017	November	1.5
2017	December	1.3
2018	January	1.5
2018	February	1.2
2018	March	1
2018	April	1.1
2018	May	1.7
2018	June	1.7
2018	July	2.1
2018	August	2.1
2018	September	1.9
2018	October	2.1
2018	November	2
2018	December	2
2019	January	2.2
2019	February	2.6
2019	March	2.8
2019	April	2.9
2019	May	2.4
2019	June	2.7
2019	July	2.5
2019	August	2.8
2019	September	2.6
2019	October	2.7
2019	November	2.6
2019	December	2.7

Increase in motor fuel prices

The year-on-year price increase of consumer products in December was lower than in November. This was mainly due to the price development of motor fuels. In December, the price of petrol at the filling station was 10.2 percent up, while in November it was 4.9 percent up year-on-year. Diesel was 7.1 percent up in December, while in November prices were 0.4 percent lower year-on-year.

The average CPI increase in 2019 was 2.6 percent.

CPI: Major contributions to year-on-year change
	December (percentage point)	November (percentage point)
All items	2.7	2.6

Housing, water and energy	0.83	0.82
Transport	0.49	0.27
Food and non alcoholic beverages	0.43	0.49
Recreation and culture	0.28	0.36
Miscellaneous goods and services	0.27	0.21
Restaurants and hotels	0.26	0.23
Communication	-0.11	-0.13

CPI: Major contributions to year-on-year change
	December (percentage point)	November (percentage point)
All items	2.7	2.6

Housing, water and energy	0.83	0.82
Transport	0.49	0.27
Food and non alcoholic beverages	0.43	0.49
Recreation and culture	0.28	0.36
Miscellaneous goods and services	0.27	0.21
Restaurants and hotels	0.26	0.23
Communication	-0.11	-0.13

Consumer price rise in the Netherlands higher than in eurozone

Aside from the consumer price index (CPI), CBS also calculates the European harmonised index of consumer prices (HICP).

In December, HICP-based prices of goods and services in the Netherlands were 2.8 percent up year-on-year, versus 2.6 percent in November. In the eurozone, the price increase went up from 1.0 percent in November to 1.3 percent in December. The HICP for the Netherlands has been significantly above the eurozone average due to raising of the low VAT rate and energy taxes in the Netherlands as of January 2019.

HICP
year	month	The Netherlands (year-on-year % change)	Euro area (year-on-year % change)
2014	January	0.8	0.8
2014	February	0.4	0.7
2014	March	0.1	0.5
2014	April	0.6	0.7
2014	May	0.1	0.5
2014	June	0.3	0.5
2014	July	0.3	0.4
2014	August	0.4	0.4
2014	September	0.3	0.3
2014	October	0.4	0.4
2014	November	0.3	0.3
2014	December	-0.1	-0.2
2015	January	-0.7	-0.6
2015	February	-0.5	-0.3
2015	March	-0.3	-0.1
2015	April	0	0.2
2015	May	0.7	0.6
2015	June	0.5	0.5
2015	July	0.8	0.5
2015	August	0.4	0.4
2015	September	0.3	0.2
2015	October	0.4	0.4
2015	November	0.4	0.1
2015	December	0.5	0.3
2016	January	0.2	0.3
2016	February	0.3	-0.1
2016	March	0.5	0
2016	April	-0.2	-0.3
2016	May	-0.2	-0.1
2016	June	-0.2	0
2016	July	-0.6	0.2
2016	August	0.1	0.2
2016	September	-0.1	0.4
2016	October	0.3	0.5
2016	November	0.4	0.6
2016	December	0.7	1.1
2017	January	1.6	1.7
2017	February	1.7	2
2017	March	0.6	1.5
2017	April	1.4	1.9
2017	May	0.7	1.4
2017	June	1	1.3
2017	July	1.5	1.3
2017	August	1.5	1.5
2017	September	1.4	1.6
2017	October	1.3	1.4
2017	November	1.5	1.5
2017	December	1.2	1.3
2018	January	1.5	1.3
2018	February	1.3	1.1
2018	March	1	1.4
2018	April	1	1.2
2018	May	1.9	2
2018	June	1.7	2
2018	July	1.9	2.2
2018	August	1.9	2.1
2018	September	1.6	2.1
2018	October	1.9	2.3
2018	November	1.8	1.9
2018	December	1.8	1.5
2019	January	2	1.4
2019	February	2.6	1.5
2019	March	2.9	1.4
2019	April	3	1.7
2019	May	2.3	1.2
2019	June	2.7	1.3
2019	July	2.6	1
2019	August	3.1	1
2019	September	2.7	0.8
2019	October	2.8	0.7
2019	November	2.6	1
2019	December	2.8	1.3

HICP
year	month	The Netherlands (year-on-year % change)	Euro area (year-on-year % change)
2014	January	0.8	0.8
2014	February	0.4	0.7
2014	March	0.1	0.5
2014	April	0.6	0.7
2014	May	0.1	0.5
2014	June	0.3	0.5
2014	July	0.3	0.4
2014	August	0.4	0.4
2014	September	0.3	0.3
2014	October	0.4	0.4
2014	November	0.3	0.3
2014	December	-0.1	-0.2
2015	January	-0.7	-0.6
2015	February	-0.5	-0.3
2015	March	-0.3	-0.1
2015	April	0	0.2
2015	May	0.7	0.6
2015	June	0.5	0.5
2015	July	0.8	0.5
2015	August	0.4	0.4
2015	September	0.3	0.2
2015	October	0.4	0.4
2015	November	0.4	0.1
2015	December	0.5	0.3
2016	January	0.2	0.3
2016	February	0.3	-0.1
2016	March	0.5	0
2016	April	-0.2	-0.3
2016	May	-0.2	-0.1
2016	June	-0.2	0
2016	July	-0.6	0.2
2016	August	0.1	0.2
2016	September	-0.1	0.4
2016	October	0.3	0.5
2016	November	0.4	0.6
2016	December	0.7	1.1
2017	January	1.6	1.7
2017	February	1.7	2
2017	March	0.6	1.5
2017	April	1.4	1.9
2017	May	0.7	1.4
2017	June	1	1.3
2017	July	1.5	1.3
2017	August	1.5	1.5
2017	September	1.4	1.6
2017	October	1.3	1.4
2017	November	1.5	1.5
2017	December	1.2	1.3
2018	January	1.5	1.3
2018	February	1.3	1.1
2018	March	1	1.4
2018	April	1	1.2
2018	May	1.9	2
2018	June	1.7	2
2018	July	1.9	2.2
2018	August	1.9	2.1
2018	September	1.6	2.1
2018	October	1.9	2.3
2018	November	1.8	1.9
2018	December	1.8	1.5
2019	January	2	1.4
2019	February	2.6	1.5
2019	March	2.9	1.4
2019	April	3	1.7
2019	May	2.3	1.2
2019	June	2.7	1.3
2019	July	2.6	1
2019	August	3.1	1
2019	September	2.7	0.8
2019	October	2.8	0.7
2019	November	2.6	1
2019	December	2.8	1.3

The HICP is compiled according to the European harmonised method in order to facilitate comparison between the various EU member states. Price indices for the eurozone and the European Union as a whole are calculated on the basis of the HICPs of the individual member states. The European Central Bank (ECB) uses these figures to formulate its monetary policy.

Unlike the CPI, the HICP does not take into account the costs related to home ownership. In the Dutch CPI, these costs are calculated on the basis of developments in rental property prices.

Sources

StatLine - Consumer prices

Increase in motor fuel prices

Consumer price rise in the Netherlands higher than in eurozone

Sources

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