Dutch inflation was 2.3 percent in June, the same as in May, whereas the rate climbed steadily during the preceding months. Inflation is defined as the increase in the consumer price index (CPI) compared to the same month in the previous year.
Housing, energy and water (0.6 percentage points) and transport costs (0.5 percentage points) contributed most to June’s inflation rate of 2.3 percent. Food and soft drinks (0.3 percentage points) and consumption abroad (0.2 percentage points) also contributed 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 2.5 percent in June, an increase by 0.1 percentage points from the preceding month. Eurostat, the European statistical office, calculated an inflation rate of 2.7 percent in the eurozone in June, the same as in May. 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.
For more information on Dutch inflation, see Statistics Netherlands’ online video on YouTube.