Inflation down to 2.4 percent in January

Inflation is measured each month as the increase in the consumer price index (CPI) relative to one year previously. The CPI not only provides an insight into year-on-year price changes (inflation), but also month-on-month changes. Prices for consumers fell by 0.7 percent in January relative to December.

Lower inflation due to price changes for food and non-alcoholic beverages

Price changes for food and non-alcoholic beverages had a downward effect on inflation. In January, these were 2.0 percent more expensive, year on year, while in December they were 3.3 percent more expensive, year on year.

Clothing and shoes also contribute to the decline

Prices for clothing and shoes also contributed to the decline in inflation. In January 2026, clothing and shoes were 0.5 percent cheaper, year on year, while in December the year-on-year increase was 1.0 percent. Price changes for dental services also had a downward effect on inflation.

Price changes in the short term

The CPI not only provides an insight into year-on-year price changes (inflation), but also month-on-month changes. Compared to December, consumer prices fell by 0.7 percent in January.

It is worth noting that when making comparisons with the previous month, seasonal factors must be taken into account. For example, clothing is less expensive during sales than in other periods. Prices are temporarily lower then, but this is not a structural price decrease. Due to these seasonal influences, month-on-month changes are often more volatile than year-on-year changes.

Euro area inflation down

CBS publishes two different inflation rates: one is based on the Consumer Price Index (CPI) and the other is based on the European Harmonised Index of Consumer Prices (HICP). According to the HICP, consumer goods and services in the Netherlands were 2.2 percent more expensive in January, year on year. In December, inflation was 2.7 percent according to the HICP. The December figure has been revised. This was 2.5 percent with the first publication of the December numbers. Inflation in the euro area fell from 2.0 percent in December to 1.7 percent in January.

Inflation in the eurozone was lower in January 2026 than in the Netherlands. Energy prices in the euro area were lower, whereas they were higher in the Netherlands, year on year. Furthermore, the year-on-year price increase for services and industrial goods was higher in the Netherlands than the euro area average.

Difference between CPI and HICP

In order to facilitate comparison between countries, EU member states calculate a consumer price index according to internationally agreed definitions and methods. The European Central Bank (ECB) uses the HICP to formulate its monetary policies for the euro area. Most countries also produce their own national consumer price index.

For the Netherlands, the main difference between the CPI and the HICP is that the HICP does not take account of costs related to home ownership while the CPI does. In the Dutch CPI, these costs are calculated based on changes to rental property prices.

New base year for CPI figures with effect from 2026

With effect from 2026, the Consumer Price Index (CPI) and the European Harmonised Index of Consumer Prices (HICP) have switched to a new base year, from 2015=100 to 2025=100. The inflation figures for January 2026 are the first in which this new base year has been applied.

More information

The dashboard on consumer prices shows inflation according to the CPI and the HICP. In addition, the dashboard provides more detailed information on price changes for a number of consumer goods and services. The personal inflation calculator allows people to get a better understanding of how price changes affect them.