Dutch inflation down to 3.3% in May; Food prices still rose 7.1%

Daily life became 3.3 percent more expensive on average in May compared to the same month a year ago, Statistics Netherlands (CBS) reported based on a first estimate. Inflation was lower than the 4.1 percent in April. Food prices rose 7.1 percent in May.

Consumer prices fell by 0.5 percent in May compared to the previous month. CBS calculated the quick estimate based on still-incomplete data. The final inflation figures for May will be published on June 12.

Inflation was mainly caused by the development of food, beverage, and tobacco prices. These became 7.1 percent more expensive in May, after a rise of 7.2 percent in April. Prices in the service sector rose by 3.8 percent last month after a rise of 5.6 percent in April. Energy became cheaper again. However, the price drop of 1 percent was less strong than the 3.2 percent drop in April. Motor fuels are also included in this figure.

Dutch inflation based on the European calculation method was 3 percent last month. In April, it was 4.1 percent. The European calculation method is slightly different from CBS’s. The method agreed upon within the European Union to measure inflation does not include the costs of living in your own home.

Inflation in the Netherlands has been relatively high compared to other European countries for some time now. In the eurozone, prices rose by 2.2 percent in April. Later today, the statistics agency Eurostat will publish the quick estimate for eurozone inflation in May.