Inflation marginally down to 1.5 percent

  • Package holidays and food prices bring inflation down
  • Petrol price causes inflation to rise
  • Eurozone inflation rate up

According to the most recent figures published by Statistics Netherlands, inflation fell marginally in November to 1.5 percent. In October, consumer prices were on average 1.6 percent higher than one year previously.

Price developments of package holidays abroad pushed inflation down. Package holiday prices are commonly lower in November, but this year’s price drop was more substantial than in 2012. Food prices also contributed to the lower inflation rate, but petrol prices had an upward effect.

Inflation in the Netherlands according to the European harmonised method (HICP) fell to 1.2 percent, i.e. 0.1 percentage points lower than in October. Eurostat reports that the eurozone inflation rate rose from 0.7 percent in October to 0.9 percent in November. The gap between the Dutch rate and the eurozone rate has narrowed since June.