Dutch stats office: Annual inflation fell to 9.9 percent last month from 14.3 percent

Inflation in the Netherlands fell on an annual basis to 9.9 percent in November, down from 14.3 percent in October, according to a model created by Statistics Netherlands (CBS). The country’s statistics office said that the considerable fall in inflation was largely due to price developments on the energy markets.

Energy costs, including gas, electricity and district heating, were 70 percent more expensive in November than in the same month a year earlier, the CBS said. However, in October, energy was about 173 percent more expensive. Statistics Netherlands explained that the government recently enacted two measures to reduce household energy costs, including the the temporary measure to compensate people for energy prices, and the price cap on energy.

The compensation was first paid out in November. Statistics Netherlands regarded this as income support, and it was therefore not included in the inflation figure. The price ceiling did affect the inflation rate.

Statistics Netherlands also reported that motor fuels were slightly cheaper than a month earlier. This was due to the recent drop in oil prices.

Food and drinks became more expensive on average than a month earlier. In November, food cost almost 16 percent more compared to one year ago. That figure was still 14 percent in October. Higher prices were especially noticeable for bread, meat and dairy products. The annual increase in the price of clothing decreased slightly.

The figures from Statistics Netherlands are in line with the inflation figures according to the European measurement method, which were announced at the end of November. It showed that life on average became over 11 percent more expensive on an annual basis, from almost 17 percent a month earlier.

The model used by the CBS also tracks cost of living, such as rent, but the European method does not take this into account. The European method was devised to make it easier to compare inflation in different countries.