Energy prices pushed Netherlands inflation to 14.5% in September

Inflation in the Netherlands rose to 14.5 percent in September compared to a year ago, according to Statistics Netherlands’ (CBS) own calculation method. In August, it was 12 percent. Energy prices were again the main driving force behind inflation.

The stats office previously announced that based on the European harmonized method, the currency depreciation had reached a record 17.1 percent in September, compared to 13.7 percent a month earlier.

Inflation has been very high for months because gas and electricity prices have risen sharply. Those higher energy costs are also increasingly affecting food prices.

Statistics Netherlands’ method includes the costs of housing, like rent. The European method, devised to make it easier to compare inflation in different countries, does not take that into account.

CBS calculates energy prices based on new contracts. This means that the actual inflation may be lower because not all households had to conclude a new contract in September. The increased energy prices have not yet affected some families with fixed-rate contracts. The stats office is working on a new method for measuring and calculating these prices.