Inflation rate stable at 0 percent in May

Statistics Netherlands (CBS) says the CPI (consumer price index) inflation rate was 0.0 percent in May. In April too, prices of goods and services were the same as in April 2015.

Inflation (CPI)
Inflation (CPI)
 CPI
2010 J0.8
2010 F0.8
2010 M1
2010 A1.1
2010 M1
2010 J0.8
2010 J1.6
2010 A1.5
2010 S1.6
2010 O1.6
2010 N1.6
2010 D1.9
2011 J2
2011 F1.9
2011 M2
2011 A2.1
2011 M2.3
2011 J2.3
2011 J2.6
2011 A2.6
2011 S2.7
2011 O2.6
2011 N2.6
2011 D2.4
2012 J2.5
2012 F2.5
2012 M2.5
2012 A2.4
2012 M2.1
2012 J2.1
2012 J2.3
2012 A2.3
2012 S2.3
2012 O2.9
2012 N2.8
2012 D2.9
2013 J3
2013 F3
2013 M2.9
2013 A2.6
2013 M2.8
2013 J2.9
2013 J3.1
2013 A2.8
2013 S2.4
2013 O1.6
2013 N1.5
2013 D1.7
2014 J1.4
2014 F1.1
2014 M0.8
2014 A1.2
2014 M0.8
2014 J0.9
2014 J0.9
2014 A1
2014 S0.9
2014 O1.1
2014 N1
2014 D0.7
2015 J0
2015 F0.2
2015 M0.4
2015 A0.6
2015 M1.1
2015 J1
2015 J1
2015 A0.8
2015 S0.6
2015 O0.6
2015 N0.7
2015 D0.7
2016 J0.6
2016 F0.6
2016 M0.6
2016 A0
2016 M0
 

Price developments package tours keep inflation low

Prices of package tours were more than 8 percent lower in May than one year previously. Turkey, Greece and Egypt in particular were cheap holiday destinations. These price developments kept inflation low, but prices of other goods and services pushed inflation up. On balance, the inflation rates in May and April were stable at 0.0 percent.

Inflation without energy, food, alcohol and tobacco marginally lower

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 excluding these product groups. According to this criterion, the rate in May fell to 0.5 percent. The rates for April and March were 0.6 and 1.3 percent respectively.

Inflation (CPI) and price developments underlying clusters
Inflation (CPI) and price developments underlying clusters
 March 2016April 2016May 2016
Inflation0.600
Inflation excluding energy, food, alcohol and tobacco1.30.60.5
Goods-0.4-0.6-0.4
Energy-8.1-8-7.7
Food, alcohol and tobacco1.41.21.6
Goods excluding energy, food, alcohol and tobacco1.20.91.1
Services1.60.70.4

Dutch inflation rate below eurozone level

In addition to the consumer price index (CPI), CBS also compiles the European harmonised price index (HICP).

The Dutch HICP inflation rate was - 0.2 percent in May, the same as in April. The eurozone rate rose from - 0.2 percent in April to - 0.1 percent in May. For the first time since January 2016, the Dutch inflation rate dipped below the Eurozone level.

Inflation (HICP)
Inflation (HICP)
 HICP NetherlandsHICP eurozone
2010 J0.40.9
2010 F0.40.9
2010 M0.71.6
2010 A0.71.6
2010 M0.41.7
2010 J0.21.5
2010 J1.31.7
2010 A1.21.6
2010 S1.41.9
2010 O1.41.9
2010 N1.41.9
2010 D1.82.2
2011 J1.92.3
2011 F22.4
2011 M1.82.7
2011 A2.12.8
2011 M2.32.7
2011 J2.32.7
2011 J3.22.6
2011 A3.22.5
2011 S33
2011 O2.83
2011 N2.63
2011 D2.52.8
2012 J2.92.7
2012 F2.92.7
2012 M2.92.7
2012 A2.82.6
2012 M2.52.4
2012 J2.52.4
2012 J2.62.4
2012 A2.62.6
2012 S2.52.6
2012 O3.32.5
2012 N3.22.2
2012 D3.42.2
2013 J3.22
2013 F3.21.9
2013 M3.21.7
2013 A2.81.2
2013 M3.11.4
2013 J3.21.6
2013 J3.11.6
2013 A2.81.3
2013 S2.41.1
2013 O1.30.7
2013 N1.20.9
2013 D1.40.8
2014 J0.80.8
2014 F0.40.7
2014 M0.10.5
2014 A0.60.7
2014 M0.10.5
2014 J0.30.5
2014 J0.30.4
2014 A0.40.4
2014 S0.30.3
2014 O0.40.4
2014 N0.30.3
2014 D-0.1-0.2
2015 J-0.7-0.6
2015 F-0.5-0.3
2015 M-0.3-0.1
2015 A00
2015 M0.70.3
2015 J0.50.2
2015 J0.80.2
2015 A0.40.1
2015 S0.3-0.1
2015 O0.40.1
2015 N0.40.1
2015 D0.50.2
2015 J0.20.3
2015 F0.3-0.2
2015 M0.50
2015 A-0.2-0.2
2015 M-0.2-0.1

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 now marginally higher than the HICP-based rate.

Sources

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