Inflation remains low

07/12/2006 14:39

Dutch inflation was 1.0 percent in November. In October, consumer prices were 0.9 percent higher than one year previously. This was the lowest level since March 1989. Inflation is calculated as the year-on-year change of the consumer price index.

The slight increase in inflation is mostly caused by prices of petrol. Petrol cost 1.7 percent less than in the same month last year, while in October it cost 6.3 percent less.

Contributors to the 1.0 percent inflation rate in November were costs for housing, water and energy (1.0 percent point). Food and non-alcoholic beverages contributed 0.2 of a percent point. Consumer taxes and government services reduced the rate by 0.3 of a percent point. In October transport helped to lower the inflation by 0.2 of a percent point, but this no longer had an effect in November.

To allow comparisons between the member states of the European Union, the inflation rate is also calculated according to the European harmonised method. According to this method, the Dutch inflation rate in November was 1.6 percent. This is 0.3 of a percent point up on October. According to Eurostat, the statistical office of the European Union, the inflation rate in the eurozone averaged 1.8 percent in October. Dutch inflation is 0.2 of a percent point lower. In October the difference was still 0.3 of a percent point.

Dutch inflation

Dutch inflation