Inflation rate unchanged

18/08/2006 12:11

The inflation rate in July 2006 was unchanged. Just like in June, consumer prices were up by an average of 1.3 percent on the year before. Inflation is measured as the change of the consumer price index compared with the same period twelve months previously.

Rents went up by an average of 2.8 percent in July. This is more than in July of 2005, when rents increased by 2.0 percent. The gas and electricity rates also went up in July. The developments in housing raised the inflation rate.

The price of new cars fell, on average, due to changes in the tax rates. Taxes on energy-efficient cars were lowered while taxes on cars consuming a great deal of energy were raised. The price developments of clothes, shoes and car fuels also lowered the inflation rate. On balance the inflation rate in July did not change.

To allow eurozone comparisons, the inflation rate is also calculated according to the European harmonised method. According to this method, Dutch inflation in July was 1.8 percent, the same as in the three previous months. The Netherlands still has one of the lowest inflation rates in the eurozone.

According to Eurostat, the statistical office of the European Union, inflation in the eurozone averaged 2.4 percent in July. In June the inflation rate was 2.5 percent.

The Dutch inflation rate

The Dutch inflation rate