News CBS
Inflation weakens, food prices rise
Inflation was 8,8% in May. That is lower than in April when prices were 9,6% higher than a year earlier. This reports the CBS. Inflation has fallen because energy prices are rising less rapidly on an annual basis. Gasoline and food actually had a driving effect on inflation. Meat, in particular, became more expensive.
Energy is currently a major contributor to headline inflation. For energy (electricity, gas and district heating). In May 105% more had to be paid than a year earlier (in April 136%). Statistics Netherlands is still investigating how energy price developments can be better included in the inflation calculation. New contracts are now being looked at, while many contracts are still running at old rates.
Where energy depressed inflation, petrol and food actually had an upward effect on inflation. Gasoline was 23,8% year-on-year in May (20,1% in April). At the pump, a liter of petrol cost €2,19 in May, in April it was €2,09. In April, the petrol price still fell as a result of the excise tax cut.
Foods 9,1% more expensive
Foods were 9,1% more expensive year on year in May (8,5%). The higher price of meat contributed most to this. Meat was 13,9% more expensive in May than in the same month last year, in April it was 10,5%. Sugar and confectionery, oils and fats and cheese and quark products have also become more expensive.
Linda van Eekeres
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