Dutch inflation kept down by lower fuel prices, despite increase in clothing costs

Daily life became 3.5 percent more expensive in September than in the same month a year ago. This was reported by Statistics Netherlands (CBS) based on final figures, which are consistent with the previously reported rapid estimate. This meant that inflation was slightly lower than the 3.6 percent in August.

The light halt of inflation was mainly because of the development of motor fuel prices. They were 11.3 percent lower in September than they were a year ago. Fuel prices were 5.6 percent cheaper in August than in the same month a year ago.

A liter of petrol cost an average of 1.88 euros in September, while the price was 1.95 in August. The price of a liter of diesel dropped from 1.67 euros in August to 1.61 euros in September.

The price development of clothing had the opposite effect when it came to inflation. Clothing was 2.1 percent more expensive in September than in the same month a year ago. In August, the average price of clothing was 3.5 percent lower than in August 2023.

Dutch inflation, based on the European calculation method, was 3.3 percent in September, which is the same as the month before. That calculation method is slightly different from the one used by CBS. The method agreed within the European Union for measuring inflation does not take into account the costs of living in one's home.

The inflation in the Netherlands is slightly above the average in the eurozone. The inflation in the euro area dropped from 2.2 percent in August to 1.8 percent in September.

According to CBS, the reason for the higher inflation in the Netherlands is mainly the price developments of services and tobacco products.