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Food becomes more expensive, while inflation decreases
In January of this year, Dutch inflation was 7,6% lower than inflation of 9,6% in December 2022. Food did rise in price. In December food was 14% more expensive than a year earlier, food inflation rose to 14,5% last month. This appears from an initial estimate by Statistics Netherlands.
The fact that inflation turned out lower in January than in December is mainly due to the price development of energy. Energy including motor fuels fell 0,3% in price on an annual basis, while this group had risen in price by 30% last December compared to December 2022. Inflation has been leveling off for several months. Inflation, driven mainly by skyrocketing energy prices, peaked at 14,5% in September, before declining in recent months to a still high level of 7,6%. Over the whole of 2022, inflation was around 10%.
This is the second time Statistics Netherlands' quick estimate is based on incomplete source data. The regular figures of the consumer price index (CPI) will be published on 9 February. There will also be a publication of the European harmonized consumer price index (HICP).
Linda van Eekeres
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