Dutch inflation dips to 3.6 percent in August

Daily life became 3.6 percent more expensive in the Netherlands in August compared to a year earlier, Statistics Netherlands (CBS) reported in an initial estimate on Friday. That puts inflation slightly below July’s rate of 3.7 percent. The price development of motor fuel was the main reason for the slight decrease.

In August, the prices of motor fuels fell by 3.2 percent after remaining stable in July. The prices for other industrial goods also decreased more in August (-0.9 percent) than in July (-0.7 percent).

Food prices and services had an upward effect on inflation. Food, drinks, and tobacco products became 5.6 percent more expensive in August after price increases of 5.2 percent in July. The prices for services increased by 5.8 percent, compared to 5.7 percent last month.

CBS will present more complete inflation figures for August on September 10. This initial estimate was released even before the month came to a close so that the rough estimate could be published on the same day in which Eurostat planned to publish its inflation estimate for the entire European Union.

Based on the European harmonized method, which differs from that of the CBS, Dutch inflation was 3.3 percent in August and 3.5 percent in July. The European method does not include the costs associated with living in your own home, as opposed to the CBS.