Inflation rate down to 0.8 percent in November
|Year||Month||Year-on-year change (year-on-year % change)|
Decrease in clothing and petrol prices
Inflation fell mainly due to the price development of clothing. In November, clothes were 0.6 percent cheaper than one year previously, while in October prices were 3.2 percent higher year-on-year. The price development of petrol also had a downward effect on inflation. In November, petrol prices were 8 percent lower year-on-year and in October the price decrease was 5.2 percent.
|November (percentage point)||October (percentage point)|
|Miscellaneous goods |
|Alcoholic beverages and |
|Housing, water and |
|Recreation and culture||0.12||0.16|
|Clothing and shoes||0||0.21|
Inflation in eurozone remains negative
Aside from the consumer price index (CPI), CBS also calculates the European harmonised index of consumer prices (HICP).
In November, HICP-based prices of goods and services in the Netherlands were 0.7 percent up year-on-year, versus 1.2 percent in October. The inflation rate in the eurozone remained at -0.3 percent, as in the previous two months.
|year||month||The 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 developments in rental property prices.
Implications of the coronavirus crisis for consumer price measurements in November
Due to coronavirus-related government measures, in November the full extent of services by e.g. airlines and events was limited or unavailable. As a consequence, there were no transactions for many of these services for which prices could be measured. In line with guidelines from Eurostat, the statistical office of the European Union, CBS chose the most appropriate estimation method for each situation. The product groups within which prices had to be estimated due to coronavirus measures account for around 10 percent of consumptive expenditure. All choices are explained in a note and in a table is indicated per product group if an estimate had to be made.
- StatLine - Consumer prices
- Custom - CPI; Overview COVID-19 adjustments, as from April 2020
- Dossier - Business Cycle