Inflation rate up to 2.7 percent in September
| Year | Month | Year-on-year change (year-on-year % change) |
|---|---|---|
| 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 |
| 2020 | January | 1.8 |
| 2020 | February | 1.6 |
| 2020 | March | 1.4 |
| 2020 | April | 1.2 |
| 2020 | May | 1.2 |
| 2020 | June | 1.6 |
| 2020 | July | 1.7 |
| 2020 | August | 0.7 |
| 2020 | September | 1.1 |
| 2020 | October | 1.2 |
| 2020 | November | 0.8 |
| 2020 | December | 1 |
| 2021 | January | 1.6 |
| 2021 | February | 1.8 |
| 2021 | March | 1.9 |
| 2021 | April | 1.9 |
| 2021 | May | 2.1 |
| 2021 | June | 2 |
| 2021 | July | 1.4 |
| 2021 | August | 2.4 |
| 2021 | September | 2.7 |
Higher energy bill
More expensive energy (electricity, gas and other fuels) caused inflation to rise in September. Energy was 19.4 percent more expensive in September than one year previously. In August, the year-on-year price increase was 13.7 percent. In addition to gas and electricity, the price development of motor fuels also had an upward effect on inflation.
| Month | 2021 (2015=100) | 2020 (2015=100) |
|---|---|---|
| January | 104.43 | 109.03 |
| February | 106.13 | 108.4 |
| March | 107.18 | 107.19 |
| April | 107.97 | 105.85 |
| May | 108.22 | 105.13 |
| June | 109.99 | 104.68 |
| July | 115.79 | 102.81 |
| August | 117.17 | 103.05 |
| September | 123.29 | 103.27 |
Discount on tuition fees depresses inflation
Students paid less for education in September than one year previously. This has a downward effect on inflation. For a study programme in the academic year 2021-2022 at adult general secondary education (VAVO), secondary vocational education (MBO), higher professional education (HBO) or university, students receive a 50 percent discount on course or tuition fees. This discount is a government measure in connection with the coronavirus crisis.
| September (percentage point) | August (percentage point) | |
|---|---|---|
| All items | 2.7 | 2.4 |
| Housing, water and energy | 0.97 | 0.75 |
| Transport | 0.91 | 0.63 |
| Miscellaneous goods and services | 0.26 | 0.27 |
| Restaurants and hotels | 0.19 | 0.12 |
| Furnishing and household equipment | 0.19 | 0.2 |
| Recreation and culture | 0.18 | 0.06 |
| Consumption abroad | 0.16 | 0.13 |
| Education | -0.3 | 0.02 |
Increase HICP in the euro area 3.4 percent
Aside from the consumer price index (CPI), CBS also calculates the European harmonised consumer price index (HICP). According to the European HICP, consumer goods and services in the Netherlands were 3.0 percent more expensive in September than in the same month last year, up from 2.7 percent in August. Inflation in the euro area rose from 3.0 to 3.4 percent, the highest inflation rate since October 2008.
| year | month | The Netherlands (year-on-year % change) | Euro area (year-on-year % change) |
|---|---|---|---|
| 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 |
| 2020 | January | 1.7 | 1.4 |
| 2020 | February | 1.3 | 1.2 |
| 2020 | March | 1.1 | 0.7 |
| 2020 | April | 1 | 0.3 |
| 2020 | May | 1.1 | 0.1 |
| 2020 | June | 1.7 | 0.3 |
| 2020 | July | 1.6 | 0.4 |
| 2020 | August | 0.3 | -0.2 |
| 2020 | September | 1 | -0.3 |
| 2020 | October | 1.2 | -0.3 |
| 2020 | November | 0.7 | -0.3 |
| 2020 | December | 0.9 | -0.3 |
| 2021 | January | 1.6 | 0.9 |
| 2021 | February | 1.9 | 0.9 |
| 2021 | March | 1.9 | 1.3 |
| 2021 | April | 1.7 | 1.6 |
| 2021 | May | 2 | 2 |
| 2021 | June | 1.7 | 1.9 |
| 2021 | July | 1.4 | 2.2 |
| 2021 | August | 2.7 | 3 |
| 2021 | September | 3 | 3.4 |
The HICP is compiled according to the European harmonised method to facilitate comparison across EU member states. Price indices for the euro area and the European Union as a whole are calculated based on the HICPs of the individual member states. The European Central Bank (ECB) uses these figures to formulate its monetary policy.
The main conceptual difference between the CPI and the HICP for the Netherlands is that, unlike the CPI, the HICP does not take into account the costs of homeownership. In the Dutch CPI, these costs are calculated based on developments in rental property prices.
Implications of the coronavirus crisis for consumer price measurements
Due to the government's COVID-19 countermeasures, some services have been either limited or unavailable since April 2020, such as intercontinental flights in September. As a result, there were no transactions for these services that allowed for price measurements. In accordance with the Eurostat guidelines, CBS opted for the most appropriate estimation method in each situation.
The coronavirus pandemic has significantly changed consumers’ spending patterns. The change in consumption patterns will affect inflation in 2021.
Sources
- StatLine - Consumer prices
- Custom - CPI; Overview COVID-19 adjustments, as from April 2021
Related items
- Dossier - Business Cycle