Inflation rate remains below 2 percent in 2007

22/01/2008 15:00

The average inflation rate in the Netherlands over 2007 was 1.6 percent. This is 0.5 percentage points up on one year previously, but the rate is still under 2 percent. For the fourth year running, the rate does not exceed 2 percent. Inflation in the Netherlands is extremely low in comparison with other European countries. Inflation in the eurozone over 2007 stood at 2.1 percent.

Inflation rate

Inflation rate

Consumer electronics and telephone services cheaper

The low inflation rate in the Netherlands is primarily due to low prices for audio, video and computer equipment. On average, prices were more than 12 percent down on a year ago. Prices for telephone and Internet services were nearly 3 percent below the level of 2006, which also contributed to the low inflation rate.

Prices food products 1 percent up

Average prices for food products were indeed 1 percent up on a year ago, but the price increase is below the average rate of inflation. Meat even became a bit cheaper relative to one year previously, but this does not apply to the entire food sector. Bread, cereal and dairy products became considerably more expensive. Bread, milk, cheese and butter prices have risen notably over the latter half of 2007.

Food prices

Food prices

Energy, petrol and eating out more expensive

Energy prices were on average 4.1 percent higher in 2007 than one year previously, thus forcing up inflation. Petrol and going to restaurants, pubs and wine bars also became more expensive (+ 3.3 percent) than last year.

Gert-Jan van Steeg