Dutch inflation climbed to 3.8 percent in February; Food prices up 7.5 percent

Daily life became 3.8 percent more expensive on average in February than in the same month a year ago, Statistics Netherlands (CBS) reported based on a quick estimate. This meant inflation was higher than the 3.3 percent in January this year.

Last month, inflation was mainly caused by the development of food, drink, and tobacco prices. These became 7.5 percent more expensive in February, after a 7 percent increase in January. Prices in the service sector rose by 4.6 percent after an increase of 4.4 percent a month earlier. Energy became 1.9 percent cheaper. In January, energy prices fell by 1.4 percent. This figure also includes motor fuels.

Compared ot the previous month, consumer prices rose by 1.1 percent in February. According to CBS, the quick estimate was calculated based on data that is still incomplete. The final inflation figures for February will be published on March 11.

Based on the European calculation method, Dutch inflation was 3.5 percent last month. In January, it was 3.0 percent. The European calculation method is slightly different from CBS’s. The method agreed upon within the European Union to measure inflation does not take into account the costs of living in your own home.

Later on Monday, the Eurostat statistics agency will also publish inflation figures for the eurozone. Inflation in the eurozone was 2.5 percent in January. Inflation in the Netherlands has been above the eurozone average for some time now. According to CBS, it is mainly due to price developments for services and tobacco products that inflation in the Netherlands is higher than in the eurozone.