Clothing, gas prices pushed inflation in October

The cost of everyday living in October rose by an average of 3.1 percent compared with the same month last year, according to final figures from Statistics Netherlands. This marks a slight drop from September’s inflation rate of 3.3 percent.

The drop in inflation was driven in part by slower price growth for clothing, which rose just 0.4 percent in October compared with a 2.7 percent increase in September. Falling gas price growth also contributed, with gas costing 1 percent more than a year ago, down from a 4.3 percent rise in September.

Rising airline ticket prices pushed inflation up. In October, flights cost 1.7 percent more than the same month last year, after being 17.2 percent cheaper in September.

Consumer prices increased by 0.3 percent in October compared with September. Statistics Netherlands points out that month-to-month comparisons must consider seasonal effects, such as lower clothing prices during sales, which are temporary and do not reflect a lasting decrease.

Using the European method of calculation, Dutch inflation held steady at 3 percent last month. In the eurozone as a whole, inflation declined slightly to 2.1 percent from 2.2 percent in September.

Dutch inflation stayed above the eurozone average. Statistics Netherlands explains that this is due to rising energy prices in the Netherlands, while they declined in the eurozone overall. Price increases for food, drinks, tobacco, and services were also larger in the Netherlands than the eurozone average.