HICP 9.9 percent higher in June

01/07/2022 15:00

In June 2022, inflation according to the European Harmonised Index of Consumer Prices (HICP) stood at 9.9 percent. This is reported by Statistics Netherlands (CBS). The HICP inflation rate was still 10.2 percent in May. It concerns an initial estimate, based on as yet incomplete source data. The regular figures including inflation according to the national Consumer Price Index (CPI) will be published on 7 July.

Harmonised Index of Consumer Prices (HICP) for the Netherlands
Year	Month	Year-on-year change (year-on-year % change)
2017	January	1.6
2017	February	1.7
2017	March	0.6
2017	April	1.4
2017	May	0.7
2017	June	1
2017	July	1.5
2017	August	1.5
2017	September	1.4
2017	October	1.3
2017	November	1.5
2017	December	1.2
2018	January	1.5
2018	February	1.3
2018	March	1
2018	April	1
2018	May	1.9
2018	June	1.7
2018	July	1.9
2018	August	1.9
2018	September	1.6
2018	October	1.9
2018	November	1.8
2018	December	1.8
2019	January	2
2019	February	2.6
2019	March	2.9
2019	April	3
2019	May	2.3
2019	June	2.7
2019	July	2.6
2019	August	3.1
2019	September	2.7
2019	October	2.8
2019	November	2.6
2019	December	2.8
2020	January	1.7
2020	February	1.3
2020	March	1.1
2020	April	1
2020	May	1.1
2020	June	1.7
2020	July	1.6
2020	August	0.3
2020	September	1
2020	October	1.2
2020	November	0.7
2020	December	0.9
2021	January	1.6
2021	February	1.9
2021	March	1.9
2021	April	1.7
2021	May	2
2021	June	1.7
2021	July	1.4
2021	August	2.7
2021	September	3
2021	October	3.7
2021	November	5.9
2021	December	6.4
2022	January	7.6
2022	February	7.3
2022	March	11.7
2022	April	11.2
2022	May	10.2
2022	June	9.9

Harmonised Index of Consumer Prices (HICP) for the Netherlands
Year	Month	Year-on-year change (year-on-year % change)
2017	January	1.6
2017	February	1.7
2017	March	0.6
2017	April	1.4
2017	May	0.7
2017	June	1
2017	July	1.5
2017	August	1.5
2017	September	1.4
2017	October	1.3
2017	November	1.5
2017	December	1.2
2018	January	1.5
2018	February	1.3
2018	March	1
2018	April	1
2018	May	1.9
2018	June	1.7
2018	July	1.9
2018	August	1.9
2018	September	1.6
2018	October	1.9
2018	November	1.8
2018	December	1.8
2019	January	2
2019	February	2.6
2019	March	2.9
2019	April	3
2019	May	2.3
2019	June	2.7
2019	July	2.6
2019	August	3.1
2019	September	2.7
2019	October	2.8
2019	November	2.6
2019	December	2.8
2020	January	1.7
2020	February	1.3
2020	March	1.1
2020	April	1
2020	May	1.1
2020	June	1.7
2020	July	1.6
2020	August	0.3
2020	September	1
2020	October	1.2
2020	November	0.7
2020	December	0.9
2021	January	1.6
2021	February	1.9
2021	March	1.9
2021	April	1.7
2021	May	2
2021	June	1.7
2021	July	1.4
2021	August	2.7
2021	September	3
2021	October	3.7
2021	November	5.9
2021	December	6.4
2022	January	7.6
2022	February	7.3
2022	March	11.7
2022	April	11.2
2022	May	10.2
2022	June	9.9

Price development of special aggregates

In its initial estimate (also known as flash estimate), CBS also reports price developments in so-called special aggregates. Four special aggregates together make up total domestic consumption expenditure according to the HICP: non-energy industrial goods; energy including motor fuels; food, beverages and tobacco; and services.

HICP; annual changes in special aggregates
	June 2022 (%)	May 2022 (%)
All items	9.9	10.2

Non-energy industrial goods	5.4	5.4
Energy including motor fuels	59.7	67.3
Food, beverages and tobacco	9.6	8.1
Services	3.0	2.9

HICP; annual changes in special aggregates
	June 2022 (%)	May 2022 (%)
All items	9.9	10.2

Non-energy industrial goods	5.4	5.4
Energy including motor fuels	59.7	67.3
Food, beverages and tobacco	9.6	8.1
Services	3.0	2.9

HICP and CPI

Since 1996, CBS has published two different inflation rates: one based on the Consumer Price Index (CPI) and one based on the Harmonised Index of Consumer Prices (HICP). In order to facilitate comparison between countries, EU member states calculate a consumer price index according to internationally agreed definitions and methods. The European Central Bank (ECB) uses the HICP to formulate its monetary policies in the euro area. In addition, most countries produce their own national consumer price index. The main difference between the CPI and the HICP for the Netherlands is that, 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 rental property prices. However, this is not the only difference. The differences are further explained in a publication.