Consumer price increase lower in March

Statistics Netherlands (CBS) reports that the consumer price index (CPI) was 1.0 percent higher in March than in the same month last year. In February, prices of consumer goods and services were 1.2 percent up.

The consumer price index (CPI) is an important indicator for inflation, but is not the only one. It is an index for price changes in a basket of consumer goods and services, such as groceries, clothing, petrol, rent and insurance premiums. Inflation is a broader term which covers more than consumer goods and services; for example, prices of owner-occupied houses, manufactured products, shares and gold are also subject to change.

Consumer price index (CPI) (year-on-year % change)
 CPI
2013 Jan3
2013 feb3
2013 mrt2.9
2013 apr2.6
2013 mei2.8
2013 jun2.9
2013 Jul3.1
2013 aug2.8
2013 sep2.4
2013 okt1.6
2013 nov1.5
2013 dec1.7
2014 Jan1.4
2014 feb1.1
2014 mrt0.8
2014 apr1.2
2014 mei0.8
2014 jun0.9
2014 Jul0.9
2014 aug1
2014 sep0.9
2014 okt1.1
2014 nov1
2014 dec0.7
2015 Jan0
2015 feb0.2
2015 mrt0.4
2015 apr0.6
2015 mei1.1
2015 jun1
2015 Jul1
2015 aug0.8
2015 sep0.6
2015 okt0.6
2015 nov0.7
2015 dec0.7
2016 Jan0.6
2016 feb0.6
2016 mrt0.6
2016 apr0
2016 mei0
2016 jun0
2016 Jul-0.2
2016 aug0.2
2016 sep0.1
2016 okt0.4
2016 nov0.6
2016 dec1
2017 Jan1.7
2017 feb1.8
2017 mrt1.1
2017 apr1.6
2017 mei1.1
2017 jun1.1
2017 Jul1.3
2017 aug1.4
2017 sep1.5
2017 okt1.3
2017 nov1.5
2017 dec1.3
2018 Jan1.5
2018 feb1.2
2018 mrt1

Price increase clothes less substantial

The year-on-year increase in consumer prices over March was lower than in February. This is mainly due to price developments of a number of food products, such as meat, dairy, fruit and potatoes. The year-on-year price increase of food was lower for the sixth consecutive month. The price development of clothes drove the inflation rate down as well. However, the price development of mobile phone services, maintenance of private cars and petrol increased the inflation rate.

CPI: Major contributions to year-on-year change (percentage point)
 FebMar
Total1.21
Data is unknown or confidentialData is unknown or confidential
Housing, water and
energy
0.610.58
Miscellaneous goods
and services
0.230.24
Recreatie en cultuur0.20.17
Restaurants and hotels0.180.16
Transport0.040.14
Food and non alcoholic
beverages
0.20.08
Consumption abroad0.01-0.02
Communication-0.27-0.21
Clothing and footwear-0.1-0.24

Rise in Dutch consumer prices lower than in eurozone

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

HICP-based prices in the Netherlands decreased from 1.3 percent in February to 1.0 percent in March. In the eurozone, the price increase of goods and services increased from 1.1 to 1.4 percent. This is mainly due to price developments of food, beverages and tobacco.

HICP (year-on-year % change)
 The NetherlandsEurozone
2013 Jan3.22
2013 feb3.21.9
2013 mrt3.21.7
2013 apr2.81.2
2013 mei3.11.4
2013 jun3.21.6
2013 Jul3.11.6
2013 aug2.81.3
2013 sep2.41.1
2013 okt1.30.7
2013 nov1.20.9
2013 dec1.40.8
2014 Jan0.80.8
2014 feb0.40.7
2014 mrt0.10.5
2014 apr0.60.7
2014 mei0.10.5
2014 jun0.30.5
2014 Jul0.30.4
2014 aug0.40.4
2014 sep0.30.3
2014 okt0.40.4
2014 nov0.30.3
2014 dec-0.1-0.2
2015 Jan-0.7-0.6
2015 feb-0.5-0.3
2015 mrt-0.3-0.1
2015 apr00
2015 mei0.70.3
2015 jun0.50.2
2015 Jul0.80.2
2015 aug0.40.1
2015 sep0.3-0.1
2015 okt0.40.1
2015 nov0.40.1
2015 dec0.50.2
2016 Jan0.20.3
2016 feb0.3-0.2
2016 mrt0.50
2016 apr-0.2-0.2
2016 mei-0.2-0.1
2016 jun-0.20.1
2016 Jul-0.60.2
2016 aug0.10.2
2016 sep-0.10.4
2016 okt0.30.5
2016 nov0.40.6
2016 dec0.71.1
2017 Jan1.61.8
2017 feb1.72
2017 mrt0.61.5
2017 apr1.41.9
2017 mei0.71.4
2017 jun11.3
2017 Jul1.51.3
2017 aug1.51.5
2017 sep1.41.5
2017 okt1.31.4
2017 nov1.51.5
2017 dec1.21.4
2018 Jan1.51.3
2018 feb1.31.1
2018 mrt11.4

The HICP is compiled according to the European harmonised method in order to facilitate comparison between the various EU member states. Price indices for the eurozone and the European Union as a whole are calculated on the basis of the HICPs of the individual member states. The European Central Bank (ECB) uses these figures 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.

Sources