Inflation at 3.6 percent in August according to flash estimate

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aerial photograph of street market in Rotterdam
© CBS
Statistics Netherlands (CBS) reports in its flash estimate that inflation stood at 3.6 percent in August. The flash estimate is based on source data that is not yet complete. Inflation was 3.7 percent in July. Inflation is measured every month as the change in the consumer price index (CPI) relative to the same month one year previously. The regular consumer price index (CPI) figures for August will be published on 10 September.

Price changes across various product groups

In addition to the inflation rate, CBS also publishes price changes for a number of product groups as part of its flash estimate. These product groups are broad spending categories, such as ‘all services’. The price changes for all categories in the CPI will be published on 10 September.

HICP flash estimate

CBS publishes two different figures for inflation. One is based on the Consumer Price Index (CPI) and the other on the European Harmonised Index of Consumer Prices (HICP). According to the HICP flash estimate, inflation stood at 3.3 percent in August. The figure for July was 3.5 percent.

In order to facilitate comparison between countries, EU member states calculate a consumer price index according to internationally agreed definitions and methods. Eurostat uses the HICP figures from all EU countries to calculate the inflation rate for the euro area and the European Union. The European Central Bank (ECB) uses the HICP to formulate its monetary policies for the euro area. In addition, most countries produce a national consumer price index.

In the case of the Netherlands, the main difference between the CPI and the HICP is that the HICP does not take account of costs related to home ownership, while the CPI does. In the CPI, these costs are calculated based on changes in rents for housing. However, this is not the only difference. These differences are explained in greater detail in the article linked below.

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