Netherlands inflation up to 2.7 percent

Inflation in the Netherlands stood at 2.7 percent in September on an annual basis. Prices for goods and services increased a bit faster than a month earlier when life became 2.4 percent more expensive for consumers on average. The energy bill, in particular, was higher, Statistics Netherlands (CBS) reports.

On average, energy was almost 20 percent more expensive compared to September 2020. In August, that was still just under 14 percent. In addition to the bill for gas and electricity, fuel prices at the pump also increased, which pushed inflation.

On the other hand, students paid less for education, which had a depressing effect on currency depreciation. Due to the coronavirus crisis, the Cabinet decided to reduce tuition or course fees for this academic year by 50 percent.

According to the European measurement method, goods and services in the Netherlands were 3 percent more expensive last month than a year earlier, compared to 2.7 percent in August. In the eurozone, currency depreciation rose to 3.4 percent, the highest level since September 2008. The European measurement method does not take account of the costs of living in one's own home. The CBS inflation figure includes these costs calculated based on housing rents development.