Inflation rate stable in March

© HollandseHoogte
On a year-on-year basis, the CPI inflation rate in the Netherlands was 0.6 percent in March, the same as in February. According to Statistics Netherlands (CBS), the rate has been fairly stable over the past six months.

Inflation (CPI)
Inflation (CPI)
 CPI
2010 Jan0.8
2010 Feb0.8
2010 Mar1
2010 Apr1.1
2010 May1
2010 Jun0.8
2010 Jul1.6
2010 Aug1.5
2010 Sep1.6
2010 Oct1.6
2010 Nov1.6
2010 Dec1.9
2011 Jan2
2011 Feb1.9
2011 Mar2
2011 Apr2.1
2011 May2.3
2011 Jun2.3
2011 Jul2.6
2011 Aug2.6
2011 Sep2.7
2011 Oct2.6
2011 Nov2.6
2011 Dec2.4
2012 Jan2.5
2012 Feb2.5
2012 Mar2.5
2012 Apr2.4
2012 May2.1
2012 Jun2.1
2012 Jul2.3
2012 Aug2.3
2012 Sep2.3
2012 Oct2.9
2012 Nov2.8
2012 Dec2.9
2013 Jan3
2013 Feb3
2013 Mar2.9
2013 Apr2.6
2013 May2.8
2013 Jun2.9
2013 Jul3.1
2013 Aug2.8
2013 Sep2.4
2013 Oct1.6
2013 Nov1.5
2013 Dec1.7
2014 Jan1.4
2014 Feb1.1
2014 Mar0.8
2014 Apr1.2
2014 May0.8
2014 Jun0.9
2014 Jul0.9
2014 Aug1
2014 Sep0.9
2014 Oct1.1
2014 Nov1
2014 Dec0.7
2015 Jan0
2015 Feb0.2
2015 Mar0.4
2015 Apr0.6
2015 May1.1
2015 Jun1
2015 Jul1
2015 Aug0.8
2015 Sep0.6
2015 Oct0.6
2015 Nov0.7
2015 Dec0.7
2016 Jan0.6
2016 feb0.6
2016 mrt0.6
 

Petrol cheaper, airfares have upward effect on inflation

Petrol price developments had a downward effect on inflation in March. The average litre price of unleaded petrol was 18 eurocents down from one year previously. In February the year-on-year price difference was 13 eurocents per litre.

Price developments for airfares, hotels and cottages forced inflation up. Because Easter 2016 was in March, prices of these services increased. Easter 2015 was in April.

Inflation excluding energy, food, alcohol and tobacco remains unchanged

Price developments for energy and food vary strongly and alcohol and tobacco prices are frequently raised as a result of higher excise duty rates. Therefore, inflation is also measured without taking these product groups into account. According to this criterion, the rate in March was the same as in February (1.3 percent).

Inflation (CPI) and price developments underlying clusters
Inflation (CPI) and price developments underlying clusters
 January 2016February 2016March 2016
Inflation0.60.60.6
Inflation excluding energy food, alcohol and tobacco11.31.3
Goods0-0.3-0.4
Energy-4.9-7.3-8.1
Food, alcohol and tobacco1.31.21.4
Goods, excluding energy, food, alcohol and tobacco11.41.2
Services1.11.41.6

Inflation in the Netherlands still higher than in the eurozone

In addition to the consumer price index (CPI), CBS also compiles the European harmonised price index (HICP). The Dutch HICP inflation rate was 0.5 percent in March, versus 0.3 percent in February. In the past two months the Dutch rate has higher than the eurozone rate. The eurozone inflation rates over March and February were - 0.1 and - 0.2 percent respectively.

Inflation (HICP)
Inflation (HICP)
 HICP NetherlandsHICP eurozone
2010 Jan0.40.9
2010 Feb0.40.9
2010 Mar0.71.6
2010 Apr0.71.6
2010 May0.41.7
2010 Jun0.21.5
2010 Jul1.31.7
2010 Aug1.21.6
2010 Sep1.41.9
2010 Oct1.41.9
2010 Nov1.41.9
2010 Dec1.82.2
2011 Jan1.92.3
2011 Feb22.4
2011 Mar1.82.7
2011 Apr2.12.8
2011 May2.32.7
2011 Jun2.32.7
2011 Jul3.22.6
2011 Aug3.22.5
2011 Sep33
2011 Oct2.83
2011 Nov2.63
2011 Dec2.52.8
2012 Jan2.92.7
2012 Feb2.92.7
2012 Mar2.92.7
2012 Apr2.82.6
2012 May2.52.4
2012 Jun2.52.4
2012 Jul2.62.4
2012 Aug2.62.6
2012 Sep2.52.6
2012 Oct3.32.5
2012 Nov3.22.2
2012 Dec3.42.2
2013 Jan3.22
2013 Feb3.21.9
2013 Mar3.21.7
2013 Apr2.81.2
2013 May3.11.4
2013 Jun3.21.6
2013 Jul3.11.6
2013 Aug2.81.3
2013 Sep2.41.1
2013 Oct1.30.7
2013 Nov1.20.9
2013 Dec1.40.8
2014 Jan0.80.8
2014 Feb0.40.7
2014 Mar0.10.5
2014 Apr0.60.7
2014 May0.10.5
2014 Jun0.30.5
2014 Jul0.30.4
2014 Aug0.40.4
2014 Sep0.30.3
2014 Oct0.40.4
2014 Nov0.30.3
2014 Dec-0.1-0.2
2015 Jan-0.7-0.6
2015 Feb-0.5-0.3
2015 Mar-0.3-0.1
2015 Apr00
2015 May0.70.3
2015 Jun0.50.2
2015 Jul0.80.2
2015 Aug0.40.1
2015 Sep0.3-0.1
2015 Oct0.40.1
2015 Nov0.40.1
2015 Dec0.50.2
2015 Jan0.20.3
2015 Feb0.3-0.2
2015 Mar0.5-0.1

The HICP is calculated in accordance with the European harmonised method, which facilitates comparison between the member states of the European Union. Price indices for the eurozone and the EU as a whole are calculated on the basis of the HICPs of the individual member states. The European Central Bank (ECB) is using these data to formulate its monetary policy.

Unlike the CPI, the HICP does not take into account the costs related to home ownership. In the Dutch CPI, these costs are calculated on the basis of rent levels. However, because the increase in rental prices is higher than the average price increase of other goods and services, the Dutch inflation rate based on the CPI is currently lower than the rate based on the HICP.