Changes in consumer prices

Based on the monthly figures for July, August and the flash estimate for September, consumer prices rose by 3.6 percent in Q3 2024. On the grounds of this calculation, real CAO wage growth (adjusted for inflation) was 3.1 percent.

New method for measuring energy prices and its effect on inflation figures

As of June 2023, CBS has adopted a new method to measure energy prices and incorporate them into the CPI (consumentenprijsindex). This change in methodology has an impact on the inflation rate. On 30 June, CBS published a background article explaining in more detail what the new method means for the CPI, the inflation rate and the use of the CPI for indexation purposes.

The figures used in calculating real collective wage trends are based on the research series mentioned in this background article. In this research series, the current energy prices paid by households were used, making them more consistent, on average, with the price changes that people have seen.

With effect from June 2023, the survey series was no longer calculated because since then, the new methodology used has been part of the CPI. The indices of the June 2023 survey series and thereafter were approximated to the CPI, as these indices returned to approximately the same level as the survey series in May 2023. Since June 2024, there has been no difference between the published inflation rate and the year-on-year % change in the survey series.Based on the monthly figures for July, August and the flash estimate for September, consumer prices rose by 3.6 percent in Q3 2024. On the grounds of this calculation, real CAO wage growth (adjusted for inflation) was 3.1 percent.