Inflation rate further up

03/07/2008 15:00
  • Surging petrol prices
  • Inflation Netherlands far below eurozone average

According to the consumer price index published by Statistics Netherlands, the inflation rate in June was 2.6 percent, i. e. 0.3 percentage points up on May. The increase is mainly caused by surging petrol prices. The price of petrol was nearly 12 percent higher than one year ago. In May, the price difference was 7 percent. 

Soaring fuel prices also pushed up prices of airline tickets, which were 20 percent higher than in June 2007. The price difference between May this year and May 2007 was 15 percent. Food prices also rose distinctly and are currently 7 percent up on June last year.

Dutch inflation according to the European harmonised method (HICP) was 2.3 percent in June. According to an estimate carried out by Eurostat, inflation in the eurozone was 4.0 percent, an increase by 0.3 percentage points relative to May. This is the highest rate since inflation was measured for the first time in the eurozone in 1997. This does not apply to the Netherlands, where the highest rate over the period 1997–2008 was measured in 2001.

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