Mobile phone costs cause inflation uptick

According to Statistics Netherlands, Inflation rose in October to 1.1 percent. In September, the average annual price increase was 0.9 percent. The price development of smartphones especially had an upward effect on inflation this month. This is because newer and more expensive models appeared in stores in October. Smartphones are more than 6 percent more expensive than in the same month last year. According to the European harmonized consumer price index (HICP), the Dutch inflation amounted to 0.4 percent in October. That is equal to the average in the eurozone. Germany's (the largest economy in the eurozone) inflation is higher than in the Netherlands. In Italy the inflation is lower.