Inflation rises to 2.2 percent

06/03/2008 15:00

According to Statistics Netherlands’ consumer price index, Dutch inflation was 2.2 percent in February. This is 0.2 of a percentage point up on January’s 2.0 percent. Inflation in the Netherlands is still well below the rate in the eurozone.

Clothes and road tax push up inflation

Higher prices for clothes in particular pushed up inflation. Clothes prices rose more strongly in February this year after the sales than last year. On average clothes cost 4.5 percent more in February than twelve months previously. Road tax, too, contributed to the increase in inflation. Road tax was 7.2 percent higher than in February last year. In January the price increase was still 2.3 percent. The increase was caused by a change in motor vehicle tax legislation which came into effect on 1 February 2008.

Dutch inflation well below eurozone rate

Dutch inflation calculated according to the European harmonised method (HICP) was 2.0 percent in February. This is 0.2 of a percentage point higher than in January. According to an estimate by Eurostat, inflation in the eurozone will be 3.2 percent in February. Dutch inflation is therefore still well under that of the eurozone.