Dutch inflation rate marginally up

10/05/2011 15:00

The inflation rate in the Netherlands was 2.1 percent in April, i.e. 0.1 percentage points up on March. This is mainly due to higher petrol and tobacco prices. 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 soft drinks and spending abroad contributed 0.2 percentage points to inflation. Other goods and services hardly affected inflation.

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 2.2 percent in April, an increase by 0.2 percentage points from the preceding month. Eurostat, the European statistical office, calculated an inflation rate of 2.8 percent in the eurozone in April, 0.1 percentage point higher than in March. 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.

For more information on Dutch inflation, see Statistics Netherlands’ online video on YouTube.

Dutch inflation

Dutch inflation

More figures can be found in dossier Business cycle.