Dutch inflation down to 3.3 percent in January

Daily life was 3.3 percent more expensive on average in January than in the same month last year, Statistics Netherlands (CBS) reported in a quick estimate. Inflation was, therefore, lower than the 4.1 percent in December last year.

Compared to the previous month, consumer prices fell by 0.3 percent in January. According to CBS, the quick estimate was based on incomplete data. It will publish the definitive inflation figures for January on February 13.

Last month, inflation was mainly caused by the development of food, drinks, and tobacco prices. These became 7 percent more expensive in January, after a price rise of 6.7 percent in December. Prices in the service sector rose by 4.4 percent, after an increase of 5.8 percent in December. Energy became 1.4 percent cheaper. In December, energy prices rose by 1.5 percent. This figure does not include motor fuels.

Dutch inflation based on the European calculation method was 2.9 percent last month, down from 3.9 percent in December. The European method differs slightly from the one used by CBS. The method agreed upon in the European Union to measure inflation does not take the costs of living in your own home into account.

Later today, the Eurostat statistics agency will also publish inflation figures for the eurozone. Inflation in the eurozone was 2.4 percent in December. Dutch inflation has been above the eurozone average for quite some time. According to CBS, this is mainly due to price developments of services and tobacco products.