Inflation decreased

01/12/2005 11:52

The inflation rate in October decreased to 1.6 percent. In September consumer prices were 1.8  percent higher than the year before. The main cause is the falling price of petrol. Price rises of fresh fruits and vegetables increased the inflation rate.

The price of petrol in October was on average 4.4 percent lower than in September. This cancelled out the sharp price rise between August and September. Petrol is still 9.5 percent more expensive than in 2004. Food was on average 0.5 percent more expensive in October than in September.

In October the prices of all consumer expenditure together fell by an average of 0.1 percent on September. In October 2004 there was a slight price increase compared to September. These developments led to a lower inflation rate.

Inflation in the Netherlands is measured as the change of the consumer price index compared with the same period twelve months previously. To allow international comparisons, inflation is calculated according to an European harmonised method as well.

Dutch inflation according to the European harmonised method was 1.5 percent in October,  0.2 percent points lower than in September. The inflation rate in the eurozone in October was 2.5 percent on average. This is 0.1 percent point down on September. According to the Statistical office of the European Union (Eurostat) the inflation in the eurozone is expected to be 2.4 percent on average in November.