Inflation dropped slightly to 9.6% in December; Third consecutive decrease

The pace at which prices are rising in the Netherlands decreased again in December compared to a month earlier. According to a first estimate by Statistics Netherlands (CBS), inflation was 9.6 percent last month. In November, consumer goods and services were still 9.9 percent more expensive than twelve months earlier.

Since the outbreak of war in Ukraine, life has rapidly become more expensive. But lately, prices have been rising a bit less sharply. December was the third month in a row that inflation was lower than the month before. That is entirely due to the prices of gas and electricity. They spiked earlier last year but have recently decreased. However, energy is still considerably more expensive than a year ago.

The decrease in inflation is not noticeable in supermarkets. The pace at which food, beverages, and tobacco prices rise was slightly higher in December than in November. Inflation of these products amounted to 14 percent last month, compared to 12.9 percent the month before.

Statistics Netherlands stressed that this estimate is based on incomplete data. The statistics office will only release the regular inflation figures later this month.