The Central Bureau of Statistics (CBS) has estimated inflation in the Netherlands for September at 14,5%. This is higher than the rate of currency depreciation in August, which came in at 12%. Energy and fuels are by far the biggest drivers of inflation. Excluding energy and fuel prices, inflation will be 6,5% in September. This is half a percentage point more than in August.
At the end of last week it was announced that Dutch inflation according to the European harmonized model, which can be used to compare inflation with the countries in the eurozone, is comes out at 17,1%. The own Dutch consumer price index (CPI) is now 2,6 percentage points lower than the European comparison figure. The consumer price index shows the price development of a package of goods and services, according to Statistics Netherlands, as purchased on average by Dutch households.
An inflation of 14,5% in September 2022 means that the prices of consumer products are 14,5% higher than in September 2021. The prices of energy, such as electricity and gas, have increased further in the past month. Energy was 200% more expensive in September than in the same month last year, Statistics Netherlands writes.
The statistical office does calculate the price development of energy on the basis of new contracts, so that households with a permanent contract for gas and electricity are not included. Statistics Netherlands is investigating how inflation can be calculated more accurately, taking this group into account. The first findings show that the inflation figure is clearly lower, Statistics Netherlands writes. However, the investigation was not completed until the end of this year.
Dutch Consumer Price Index (CBS)
| September 2022 (% point) | August 2022 (% point) | |
| Total | 14,5 | 12 |
| Housing, water and energy | 8,84 | 6,6 |
| Foods and non-alcoholic drinks | 1,6 | 1,65 |
| Transportation | 1,17 | 1,55 |
| Upholstery and household appliances | 0,66 | 0,58 |
| Hospitality | 0,45 | 0,58 |
| Various goods and services | 0,42 | 0,4 |
| Clothes and shoes | 0,38 | 0,14 |
| Recreation and culture | 0,36 | 0,34 |
| Consumption abroad | 0,3 | 0,38 |
| Education | 0,3 | -0,3 |
Where energy has a greater impact on inflation in September, the depreciation of money in the food and non-alcoholic drinks category actually decreases slightly. Within the CPI, inflation is 1,6 percentage points, compared to 1,65 percentage points a month earlier. This means that food deviates from most other categories, where inflation has actually risen further in the past month. In total, food is certainly not the driver behind inflation, but after energy it is the category where prices are rising relatively sharply.
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