Inflation rate unchanged

08/12/2011 09:30

Dutch inflation stood at 2.6 percent in November, the same as in October. Inflation is defined as the increase in the consumer price index (CPI) in a particular month compared to the same month in the previous year.

Housing, energy and water (0.7 percentage points) and transport costs (0.4 percentage points) contributed most to November’s inflation rate of 2.6 percent. Food and soft drinks contributed 0.3 percentage points. Other goods and services also contributed to inflation, but to a lesser extent.

The harmonised consumer price index (HICP) allows comparison between the inflation rates in the various member states of the European Union (EU). According to the HICP method, the Dutch inflation rate in November was 2.7 percent, i.e. 0.1 of a percentage point below October’s inflation rate. Eurostat, the European statistical office, calculated an inflation rate of 3.0 percent in the eurozone for November. This is the same as in October. 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.

Dutch inflation rate

Dutch inflation rate

More figures can be found in dossier Business cycle.

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