Inflation was 4.1% in December according to flash estimate

These are the most recent figures on this topic. View the previous figures here.
© Hollandse Hoogte / Richard Brocken
Statistics Netherlands (CBS) reports that the CPI inflation rate was 4.1 percent in December according to its flash estimate. The flash estimate is based on source data that is not yet complete. The inflation rate in November was 4.0 percent. Inflation is measured every month as the change in the Consumer Price Index (CPI) relative to the same month of the previous year. The regular consumer price index (CPI) figures for December will be published on 14 January.

The release of the December figure means it is possible to estimate inflation for 2024 as a whole. According to the flash estimate, consumer goods and services were 3.3 percent more expensive than they were one year ago.

Price changes across various product groups

As part of its flash estimate, in addition to the inflation rate, CBS also publishes price changes for a number of product groups. These product groups are broad spending categories, such as ‘all services’. The price changes for all categories of the CPI will be published on 14 January.

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, inflation stood at 3.9 percent in December (flash estimate), compared to 3.8 percent in November. For 2024 as a whole, consumer goods and services were 3.2 percent more expensive than they were one year ago according to the HCIP (including the flash estimate for December).

In order to facilitate comparison between countries, EU member states calculate their consumer price indices 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 publish 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. This is not the only difference however. The differences are explained in greater detail in the article linked below.

Sources

Related items