Dutch inflation dropped to 3.1 percent in June

Daily life became 3.1 percent more expensive on average in June compared to the same month a year ago, Statistics Nehterlands (CBS) reported based on a quick estimate. Inflation was therefore lower than the 3.3 percent in May.

Consumer prices were virtually the same in June compared to the previous month. CBS calculated the quick estimate based on incomplete data. The final inflation figures for June will be published on July 8.

Inflation was mainly caused by the development of the prices of food, beverages, and tobacco. These became 4.6 percent more expensive in June, after a price rise of 7.1 percent in May. Prices in the service sector rose by 4.4 percent last month, after an increase of 3.8 percent in May. Energy became 0.6 percent more expensive, after a price drop of 1 percent in May. This figure also includes motor fuels.

Dutch inflation based on the European calculation method came to 2.8 percent last month and 2.9 percent in May. The European calculation method is slightly different from CBS’s. The method agreed upon within the European Union to measure inflation does not include the costs of living in your own home.

Inflation in the Nehterlands has been relatively high compared to other European countries for some time now. This is partly due to a stronger increase in the price of food, drinks, and tobacco in the Nehterlands.

Inflation in the eurozone is just below the 2 percent target of the European Central Bank. Later today, the statistics agency Eurostat will publish a quick estimate for eurozone inflation in June.