Inflation down to -0.4% in October; 5.1% excluding energy - Statistics Netherlands news release - European Statistical System (ESS)
Statistics Netherlands (CBS) reports that the inflation rate was -0.4 percent in October. In September, consumer goods and services in the Netherlands were still 0.2 percent more expensive than in the same month last year. Inflation is measured each month as the increase in the consumer price index (CPI) relative to the same month in the previous year. October's inflation rate is the same as the flash estimate published on October 31.
The fact that inflation is negative in October is entirely because energy prices were particularly high in October 2022. Excluding energy and motor fuels, inflation would have been 5.1 percent in October, down from 5.5 percent in September. In the first half of 2023, inflation excluding energy and motor fuels was higher than it is now, peaking at 8.1 percent in February and March.
The drop in inflation does not mean that prices fell in October 2023 relative to September 2023. The CPI also gives insight into price developments on the previous month. Consumer prices were 0.4 percent higher in October than they were in September.
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Read more - Inflation, October 2023
Expert in this field: Peter Hein van Mulligen