Dutch household savings fell slightly as prices rose

Households in the Netherlands saw a slight decline in the amount of money they were able to save in the third quarter compared to a year earlier, Statistics Netherlands (CBS) reported. Higher prices for everything from groceries to air travel forced consumers to spend more cash.

But disposable income also increased. As a result, savings remained virtually unchanged.

The savings amounted to 12.2 billion euros in the summer, 160 million euros less than a year earlier. Disposable income rose by 11.2 billion euros. Not only did wages go up due to new collective agreements, but more people also went to work.

That meant that there was more money available to spend. Social benefits also increased.

On the other hand, consumer spending rose across the board. Household expenditure on services such as the hotel and hospitality industry and recreation & culture rose in particular. Purchases were not only higher there than in the third quarter of 2021, when there were many more coronavirus restrictions. Everything also became more expensive.

In the third quarter, 1.2 billion euros was banked as savings. Savings are counted when they are placed in a bank account or invested. Investments can also be made in property such as land and homes. Furthermore, households sold more shares in investments than they bought.