- Petrol price contributes to higher inflation
- Food and holidays also have upward effect
- Dutch inflation rate significantly higher than eurozone rate
According to the most recent figures released by Statistics Netherlands, the inflation rate has risen to 2.8 percent in May. In April, consumer prices were on average 2.6 percent up from one year previously.
The inflation increase was predominantly due to higher petrol prices. Although petrol prices were 1.9 percent lower in May 2013 than in May 2012, the price drop in April was no less than 3.7 percent on an annual basis.
Food and holiday prices also had an upward effect on inflation in May. Due to the cold weather conditions in spring, prices of fresh vegetables and fresh fruit were considerably higher than twelve months ago. Mobile phone and internet services had a downward effect on inflation.
Dutch inflation calculated according to the European harmonised method (HICP) has risen from 2.8 percent in April to 3.1 percent in May. The eurozone inflation rate has risen to 1.4 percent in May. The Dutch rate is currently 1.7 percentage points above the Eurozone level, the largest gap since July 2002.