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Inflation rate rises to 1 percent in the Netherlands

Staff Writer |
The inflation rate in the Netherlands according to the consumer price index (CPI) rose to 1.0 percent in December, Statistics Netherlands (CBS) reports.

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It is reaching the highest rate since August 2015. In November consumer goods and services were 0.6 percent more expensive than one year previously.

The inflation rate over 2016 averaged 0.3 percent, the lowest increase in consumer prices in nearly 30 years.

The inflation rate in December was 0.4 percentage point higher than in November, mainly on account of increased motor fuel prices. The consumer price for a litre of petrol at the filling station was 1.55 euros.

The price of petrol reached its highest level in more than one and a half years and was 9 eurocents above the level in December 2015. Clothes also became more expensive, contributing to a higher inflation rate.

These upward pressures were offset by price developments in December of mobile phones and package holidays abroad.

Energy and food prices fluctuate strongly and alcohol and tobacco prices are frequently raised as a result of higher excise duties.

Therefore, inflation is also measured without taking these product groups into account. According to this criterion the rate was 0.9 percent in December, the same as in November. In October the rate stood at 0.6 percent.

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