Inflation rate up to 2.1 percent

10/05/2011 15:00
  • Petrol price surge main contributor to inflation
  • Tobacco, food products and coffee also contribute to inflation

The Dutch inflation rate reached 2.1 percent in April, exceeding the 2.0 percent barrier for the first time since November 2008. The rate in March was 2.0 percent, according to the latest figures released by Statistics Netherlands.

The price increase of petrol contributed most to inflation. In April, the price of one litre of Euro95 averaged 1.686 euro at the petrol station, a price increase by 10 percent relative to one year previously. Petrol prices have never been as high as in April 2011.

Higher prices for tobacco, food products and coffee also contributed to inflation. On 1 March, smoking became more expensive due to a higher excise duty on tobacco. This had no immediate effect on prices, because consumers were still able to buy at old prices while supplies last. Since April, old supplies are gradually diminishing. Prices of food products and soft drinks were 2.2 percent higher in April than in April 2010. The price of coffee has soared by 19 percent over the past twelve months.

According to the European harmonised method (HICP), Dutch inflation was 2.2 percent, i.e. 0.2 percentage points up on March. According to Eurostat, inflation in the eurozone was 2.8 percent in April versus 2.7 percent in March.