Inflation slows in August as furniture and flight prices fall

Daily life in the Netherlands became 2.8 percent more expensive in August compared to the same month a year ago, Statistics Netherlands reported based on final figures that match the earlier preliminary estimate, that inflation has fallen compared with 2.9 percent in July.

The drop in inflation was partly due to a smaller increase in furniture prices. In August, furniture prices were 1.2 percent higher, compared with a 5 percent increase in July.

Prices for international flights also pushed inflation down. Tickets for international flights were 11.8 percent cheaper in August than a year earlier, compared with a 7 percent drop in July.

Clothing prices had an upward effect on inflation. In August, clothing was 3.5 percent more expensive than a year earlier, whereas in July prices had been 1.6 percent lower than the previous year. Fuel prices also contributed to the rise in inflation.

Compared with the previous month, consumer prices rose by 0.2 percent in August. Dutch inflation, measured using the European method, was 2.4 percent last month, slightly lower than 2.5 percent in July. Inflation across the entire eurozone increased to 2.1 percent, up from 2 percent in July.

Inflation in the Netherlands, therefore, remained above the eurozone average in August. According to Statistics Netherlands, this is because energy prices fell across the eurozone, while they rose in the Netherlands. In addition, price increases for industrial goods and for food, beverages, and tobacco were higher in the Netherlands than the eurozone average.