Inflation in the Netherlands down, but groceries are more expensive | Audio

The pace at which prices are rising in the Netherlands decreased again in January compared to a month earlier. The decrease in inflation is not yet noticeable in the supermarkets.

The Central Bureau of Statistics (CBS) reports in a quick first estimate that inflation fell to 7.6 percent last month. In December, consumer goods and services were still 9.6 percent more expensive than twelve months previously. At the peak in September, inflation was still 14.5 percent.

Since the outbreak of war in Ukraine, life has rapidly become more expensive. But lately prices have been going up a little less quickly. This is already the fourth month in a row that inflation has decreased. This has everything to do with the prices of gas, electricity and petrol. They rose very fast earlier last year, but have recently shown a decrease. However, energy is still considerably more expensive than a year ago.

In which European country do you do the cheapest shopping? This site did its shopping in seven countries and the differences are big. Where a jar of Nutella costs 4.16 euros in the Netherlands, for example, it is the cheapest in Belgium at 2.75 euros.

Supermarkets

Despite inflation falling in January, supermarket prices rose again last month. The pace at which prices of food, beverages and tobacco are rising was again higher in January than in December. The average price increase of these products was 14.5 percent last month, compared to 14 percent in the previous month.

However, the price increase in supermarkets appears to be leveling off somewhat on an annual basis. In November, for example, it was still at 12.9 percent. Rabobank researcher Sebastiaan Schreijen, who specializes in, among other things, food retail and consumer behavior, reported that he expected a leveling off at the beginning of this month. “Various raw materials are falling in price and the price of gas has also fallen considerably in recent times. That is why I think that prices in the supermarket will stabilize in roughly six months’ time,” says Schreijen. Whether the price will fall again in the long term, he did not dare to say.

Inflation is the average increase in prices for goods and services purchased by consumers. In other words, how much more expensive life becomes in a year. Would you like to know more about what terms such as purchasing power, indexation and average income mean again? Read it in our economics glossary.

In order to make a proper comparison with other European countries, Statistics Netherlands has also provided inflation figures according to the European method, which does not take housing rents into account, among other things. The inflation then amounted to 8.4 percent, compared to 11 percent in December.

Statistics Netherlands warns that this rapid estimate is based on incomplete data. The statistics bureau will only release the regular inflation figures later this month.


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