Consumer prices 2.1 percent up in October
The consumer price index (CPI) is an important indicator for inflation, but 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.
|jaar||maand||change (year-on-year % change)|
Clothing more expensive
The increase in the CPI was higher in October than in September, mainly due to the price development of clothes. In October, prices were 1.1 percent up on October 2017, while in September prices were lower year-on-year. The price development of air fares drove the CPI increase up as well.
|October (percentage point)||September (percentage point)|
|Housing, water and |
|Miscellaneous goods |
|Restaurants and hotels||0.16||0.18|
|Alcoholic beverages and |
|Food and non alcoholic|
|Clothing and footwear||0.02||-0.14|
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).
In October, HICP-based prices of goods and services in the Netherlands were 1.9 percent up year-on-year, versus 1.6 percent in September. In the eurozone, the price increase went up from 2.1 to 2.2 percent.
|year||month||Netherlands (year-on-year % change)||Euro area (year-on-year % change)|
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.
- StatLine - Consumer prices
- Dossier - Business Cycle