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Inflation rate in Netherlands up to 8.0 percent in February

Christian Fernsby |
Statistics Netherlands (CBS) reports that consumer goods and services in the Netherlands were 8.0 percent more expensive in February than in the same month last year.

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In January, the inflation rate stood at 7.6 percent.

In addition to the overall inflation rate, CBS also calculates monthly average price developments if energy (gas, electricity and district heating) and motor fuel prices are not taken into account.

Excluding energy and motor fuels, inflation would have increased from 7.7 percent in January to 8.1 percent in February.

Inflation is measured each month as the increase in the consumer price index (CPI) relative to the same month in the previous year. The consumer price index shows the price development of a package of goods and services as purchased on average by Dutch households.

An inflation rate of 8.0 percent in February 2023 means that consumer product prices were 8.0 percent higher than in February 2022. This means the 8.0-percent inflation in February was not on top of the 7.6-percent inflation in January.

The price developments of clothing and food led to an increase in inflation. Clothing was 11.8 percent more expensive in February than one year previously.

In January, the year-on-year price increase was 9.4 percent.

Food was 18.4 percent more expensive in February than twelve months previously; in January, this was 17.6 percent. This is mainly due to the price development of fresh vegetables.

In addition, price developments of visits to restaurants and cafés (including takeaway meals) and those of energy also had an upward effect on inflation.

The price development of motor fuels, on the other hand, had a downward effect on the development of inflation. Motor fuels were 9.4 percent cheaper in February than twelve months previously. Prices were 5.6 percent lower in January.


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