The inflation rate in the Netherlands was 2.0 percent in March, i.e. 0.1 percentage points up on February. This is mainly due to more expensive insurance premiums and airline tickets. Inflation is defined as the increase in the consumer price index (CPI) compared to the same month in the previous year.
Housing, energy, water and transport costs each contributed 0.5 percentage points to inflation in March. Food and non-alcoholic drinks and spending abroad contributed 0.2 percentage points. Other goods and services hardly affected the inflation rate.
The harmonised consumer price index (HICP) allows comparison between the inflation rates in the member states of the European Union (EU). According to the HICP method, Dutch inflation was 2.0 percent in March, the same as in the two preceding months. Eurostat, the European statistical office, calculated an inflation rate of 2.7 percent in the eurozone in March, versus 2.4 percent in February. The level of inflation in the eurozone is one of the main guidelines for the European Central Bank (ECB) to change or refrain from changing the interest rate. According to the ECB, prices in the eurozone are stable, if the inflation rate is close to 2 percent.
More figures can be found in dossier Business cycle.