Inflation in the Netherlands was 11.2 percent in November, compared to prices exactly a year ago. That made it Central Statistical Office (CBS) announced on Wednesday. Last October, inflation was still 16.8 percent. The sharp drop is mainly due to stabilizing energy prices. In addition, inflation on the cost of living has remained virtually the same. Only inflation on food, alcohol and tobacco has continued to rise.
Whereas energy was twice as expensive in October as a year ago, it was 40 percent more expensive in November than the year before. However, the energy figure gives a distorted picture, because inflation is calculated on the basis of newly concluded energy contracts. The vast majority of Dutch people did not conclude a new energy contract in November, and therefore do not directly feel these price fluctuations.
Inflation in the Netherlands and the rest of Europe is calculated according to the European harmonized consumer price index (HICP). According to Statistics Netherlands, it is “a quick estimate based on still incomplete source data”. The figures for the rest of Europe will also be published later on Wednesday.
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