News Inflation
Inflation takes a small step back to 6,2 percent
Dutch inflation took a small step back in February. Inflation was 6,2% on an annual basis last month, the Central Bureau of Statistics reported. In January inflation was 6,4%. The decrease is mainly due to the fact that energy prices rose less rapidly in February, on an annual basis, than in January. Food became more expensive. Inflation across the eurozone did rise and reached its all-time high.
In February, energy in the Netherlands was 77% more expensive than in the same month a year earlier. In January this was 88%. In addition, the price development of mobile phones had a depressing effect on inflation. The price of furniture (including upholstery and floor coverings) and food actually had an upward effect on inflation. Furniture was 9,7% more expensive in February than a year earlier. In January this was 6,7%. Foods came in at 4,9% year-on-year in February. In January this was 4,3%.
According to the European inflation calculation method HICP, inflation in the Netherlands was 7,3% in February and 7,6% in January. Inflation in the Netherlands remains higher than in the entire eurozone. Inflation in the eurozone did increase: from 5,1% in January to 5,8% in February. That is the highest inflation ever recorded in the eurozone.
Better calculation of energy prices
The price increases of energy (such as gas, electricity and motor fuels) currently determine more than half of the current inflation. This is reason for the statistical service to examine whether the current method of calculating energy prices can be further refined. The Central Bureau of Statistics does not know how many households have concluded which energy contracts at what time and at what price.
Arlen Hoebergen, statistical researcher with the Consumer Prices team, says in a press release: "The current method of measuring the prices of gas and electricity is sufficient in a fairly stable market, but with extreme price increases such as in the current market, we need to to further refine the method with which we map current price developments, so that we can also observe in energy prices what the consumer is really paying at that moment."
Linda van Eekeres
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