Food inflation is decreasing in the Netherlands and the eurozone

Inflation in the Netherlands for February amounts to 2,8%. In January that was still 3,2%. This is evident from the rapid inflation estimate of Statistics Netherlands. Food inflation is also decreasing: from 4,1% in January to 2,7% last month.

The largest price increase was for services, which became 4,5% more expensive compared to February 2023. In January, the annual increase was slightly higher, 4,8%. Compared to January, prices in February are 0,6% higher. In January this was 0,5% compared to December.  

The quick estimate of inflation in the Netherlands according to the HICP (the European method) was 2,7% in February. In January, inflation according to the HICP was 3,1%. Month-on-month, Dutch inflation was 0,9% according to the European method. 

At 2,6%, inflation in the eurozone is almost the same as that of the Netherlands. In January, inflation in the eurozone was 2,8%. Food inflation in the eurozone is 4%, compared to 5,6% in January. On a monthly basis, food prices rose 0,1%.

At 2,7%, inflation in Germany is as high as in the Netherlands. In France, prices rose 3,1% year on year in February, 2,9% in Spain and 0,9% in Italy. Belgium, which had an inflation rate of 3,6%, saw prices rise relatively rapidly by 2,4% from January to February.

Linda van Eekeres

Linda van Eekeres is co-writing editor-in-chief. She mainly focuses on macro-economic developments and the influence of politics on the agricultural sector.

l.vaneekeres@boerenbusiness. Nl

© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.