Inflation further up

03/12/2009 15:00
  • Inflation rate up due to higher petrol prices
  • Inflation rate in the Netherlands equal to eurozone rate

According to the most recent data published by Statistics Netherlands, inflation in the Netherlands was 1.0 percent in November 2009, an increase by 0.3 percentage points relative to October. The rate rose for the fourth month in a row.

The petrol price had an upward effect on inflation. Petrol prices were 11.2 percent higher in November 2009 than in November 2008, whereas October’s petrol price was 1.5 percent lower than twelve months ago. The reason is that petrol prices plummeted in November last year.

Tobacco prices had a downward effect on inflation in November. Cigarettes and rolling tobacco became considerably more expensive in November 2008, due to the higher excise duty rate introduced earlier in the year. This effect is now no longer noticeable.

Dutch inflation according to the European harmonised method (HICP) is 0.7 percent in November. According to an estimate conducted by Eurostat, inflation in the eurozone over November is 0.6 percent. For the first time in six months, the zero barrier was broken. Inflation levels in the Netherlands and the eurozone are now more or less equal.