Inflation hit 17% in September, another record high

Daily life became 17.1 percent more expensive on average in September, again breaking the record for highest inflation ever in the Netherlands. Statistics Netherlands reported this in an initial estimate using the harmonized European measurement method. In August, inflation was 13.7 percent on an annual basis.

Inflation has been very high for months because gas and electricity prices have risen sharply. But those higher energy costs are also increasingly affecting food prices.

The figure according to the harmonized European method is always higher than Statistics Netherlands’ own method. That figure won’t be released until next week. It includes housing costs like rent. The European method doesn’t take that into account. The European method was devised to make it easier to compare inflation in different countries.

Statistics Netherlands calculates energy prices based on new contracts. That means actual inflation may be lower because not all households had to sign a new energy contract in September. The stats office is working on a new method of measuring and calculating energy prices to map out their development in a more refined way.