Dutch inflation rate down

07/05/2013 09:30

The Dutch inflation rate was 2.6 percent in April versus 2.9 percent in March. The price of petrol in particular had a downward effect on inflation. Food prices also had a downward effect. 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.

Dutch inflation rate

Dutch inflation rate

The harmonised consumer price index (HICP) allows comparison between the inflation rates in the various member states of the European Union (EU). 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.

According to the HICP method, the inflation rate in the Netherlands was 2.8 percent in April, i.e. 0.4 percentage points lower than in March. Eurostat, the European statistical office, calculated an inflation rate of 1.2 percent for the eurozone in April, as against 1.7 percent in March. For more information, the reader is referred to the article Dutch inflation considerably above eurozone level.                                                 

Dutch inflation according to HICP

Dutch inflation according to HICP

More figures can be found in the Business cycle dossier.

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

For more information on economic indicators, see the Economic Monitor.