Inflation up further to 1.9 percent

06/12/2007 15:00

According to Statistics Netherlands consumer price index, Dutch inflation rose to 1.9 percent in November 2007. This is 0.3 of a percent point higher than in October. The increase was mainly caused by higher petrol prices.

As eurozone inflation rose by even more, the gap between this rate and Dutch inflation widened even further. The Netherlands has the lowest inflation rate in the eurozone.

Petrol and milk products cost more

Price increases for motor fuels pushed up inflation by 0.2 of a percent point. Petrol, diesel and LPG cost on average 14.8 percent more than twelve months previously. In October this increase was 9.6 percent.

Consumers are also having to pay more for basic groceries such as milk products and bread. Higher food prices contributed 0.1 of a percent point to inflation. Prices of milk products in particular have increased. Consumers paid 12.2 percent more for these than in November last year. In  October this increase was 6.6 percent.

Dutch inflation lowest in eurozone

Eurostat estimates that inflation in the eurozone will reach 3.0 percent in November. Dutch inflation according to the European harmonised method (HICP) rose to 1.8 percent in November. The difference between the Netherlands and the Eurozone has been increasing gradually since June 2007. This is mainly the results of price developments for rents and energy. Since August the Netherlands has had the lowest rate of inflation in the eurozone.