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Inflation
2019 January 2.2
2019 February 2.6
2019 March 2.8
2019 April 2.9
2019 May 2.4
2019 June 2.7
2019 July 2.5
2019 August 2.8
2019 September 2.6
2019 October 2.7
2019 November 2.6
2019 December 2.7
2020 January 1.8
2020 February 1.6
2020 March 1.4
2020 April 1.2
2020 May 1.2
2020 June 1.6
2020 July 1.7
2020 August 0.7
2020 September 1.1
2020 October 1.2
2020 November 0.8
2020 December 1
2021 January 1.6
2021 February 1.8
2021 March 1.9
2021 April 1.9
2021 May 2.1
2021 June 2
2021 July 1.4
2021 August 2.4
2021 September 2.7
2021 October 3.4
2021 November 5.2
2021 December 5.7
2022 January 6.4
2022 February 6.2
2022 March 9.7
2022 April 9.6
2022 May 8.8
2022 June 8.6
2022 July 10.3
2022 August 12
2022 September 14.5
2022 October 14.3
2022 November 9.9
2022 December 9.6
2023 January 7.6
2023 February 8
2023 March 4.4
2023 April 5.2
2023 May 6.1
2023 June 5.7
2023 July 4.6
2023 August 3
2023 September 0.2
2023 October -0.4
2023 November 1.6
2023 December 1.2
2024 January 3.2
2024 February 2.8
2024 March 3.1

Inflation higher due to energy price developments

The rise in inflation was mainly due to changes in the price of energy (gas, electricity and district heating). Energy prices were 2.9 percent lower in March than one year previously, but in February energy was 5.9 percent less expensive than one year earlier.

Since June 2023, CBS has been using a new method to measure energy prices and incorporate them into the CPI. On 30 June, CBS published a background article explaining in more detail what this switch means for the CPI, the inflation rate and the use of the CPI for indexation purposes.

Price index electricity, gas and heat energy
Jan 172.39 189.85
Feb 171.56 182.39
Mar 169.96 175.11
Apr 173.03
May 166.5
Jun 163.35
Jul 157.57
Aug 156.9
Sep 157.32
Oct 156.36
Nov 158.95
Dec 160.2

Petrol more expensive

In addition to energy, price changes in petrol also had an upward effect on the inflation rate. In March, petrol was 11.5 percent more expensive relative to one year previously. In February, prices were 9.0 percent higher than the previous year. One liter of Euro 95 petrol cost an average of 2.01 euros in March, compared with 1.97 euros in February.

CPI: Major contributions to year-on-year change
All items 3.1 2.8
Miscellaneous goods
and services (i.a. personal
care and insurances)		 0.67 0.68
Restaurants and hotels 0.54 0.51
Transport 0.50 0.45
Housing, water and
energy		 0.49 0.39
Alcoholic beverages
and tobacco		 0.31 0.30
Recreation and culture 0.25 0.24

Inflation in the euro area down

Since 1996, CBS has published two different inflation rates: one based on the Consumer Price Index (CPI) and one based on the European Harmonised Index of Consumer Prices (HICP). According to the HICP, consumer goods and services in the Netherlands were 3.1 percent more expensive in March than in the same month last year. In February, the inflation rate was 2.7 percent according to the HICP. Inflation in the euro area as a whole fell from 2.6 percent in February to 2.4 in March.

European harmonised inflation (HICP)
2019 January 2 1.4
2019 February 2.6 1.5
2019 March 2.9 1.4
2019 April 3 1.7
2019 May 2.3 1.2
2019 June 2.7 1.3
2019 July 2.6 1
2019 August 3.1 1
2019 September 2.7 0.8
2019 October 2.8 0.7
2019 November 2.6 1
2019 December 2.8 1.3
2020 January 1.7 1.4
2020 February 1.3 1.2
2020 March 1.1 0.7
2020 April 1 0.3
2020 May 1.1 0.1
2020 June 1.7 0.3
2020 July 1.6 0.4
2020 August 0.3 -0.2
2020 September 1 -0.3
2020 October 1.2 -0.3
2020 November 0.7 -0.3
2020 December 0.9 -0.3
2021 January 1.6 0.9
2021 February 1.9 0.9
2021 March 1.9 1.3
2021 April 1.7 1.6
2021 May 2 2
2021 June 1.7 1.9
2021 July 1.4 2.2
2021 August 2.7 3
2021 September 3 3.4
2021 October 3.7 4.1
2021 November 5.9 4.9
2021 December 6.4 5
2022 January 7.6 5.1
2022 February 7.3 5.9
2022 March 11.7 7.4
2022 April 11.2 7.4
2022 May 10.2 8.1
2022 June 9.9 8.6
2022 July 11.6 8.9
2022 August 13.7 9.1
2022 September 17.1 9.9
2022 October 16.8 10.6
2022 November 11.3 10.1
2022 December 11 9.2
2023 January 8.4 8.6
2023 February 8.9 8.5
2023 March 4.5 6.9
2023 April 5.8 7
2023 May 6.8 6.1
2023 June 6.4 5.5
2023 July 5.3 5.3
2023 August 3.4 5.2
2023 September -0.3 4.3
2023 October -1 2.9
2023 November 1.4 2.4
2023 December 1 2.9
2024 January 3.1 2.8
2024 February 2.7 2.6
2024 March 3.1 2.4

Difference between CPI and HICP

In order to facilitate comparison between countries, EU member states calculate a consumer price index according to internationally agreed definitions and methods. The European Central Bank (ECB) uses the HICP to formulate its monetary policies for the euro area. In addition, most countries produce a national consumer price index.

For the Netherlands, the main difference between the CPI and the HICP is that the HICP does not take account of costs related to home ownership while the CPI does. In the Dutch CPI, these costs are calculated based on changes to rental property prices. These differences are explained in greater detail in the article Differences between consumer price figures.

Source of original article: Statistics Netherlands (CBS) (www.cbs.nl).
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