Inflation rate unchanged in August

  • Motor fuels cheaper
  • Dutch inflation rate still lowest in the eurozone

According to the consumer price index (CPI) published by Statistics Netherlands, inflation was 3.2 percent in August, the same as in July when the rate exceeded the 3 percent mark for the first time since 2002.

The price of motor fuels dropped by nearly 4 percent in the course of one month. In August, prices of motor fuels were on average 13 percent higher than in the same month last year, as against 15 percent in July, but inflation did not decline in August. This is due to rising prices for flowers, plants and clothes.

Inflation in the Netherlands according to the European harmonised method (HICP) did not change in August and is stable at 3.0 percent. According to a Eurostat estimate, inflation in the eurozone averaged 3.8 percent, a decrease relative to July. The gap between the Dutch rate and the eurozone average has again narrowed, but the Dutch inflation rate remains the lowest across the eurozone.

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