Inflation down to 1.2 percent in December; 3.4 percent excluding energy - European Statistical System (ESS)
Statistics Netherlands (CBS) reports that consumer goods and services in the Netherlands were 1.2 percent more expensive in December than one year previously. In November, the inflation rate stood at 1.6 percent. Inflation is measured each month as the increase in the consumer price index (CPI) relative to the same month in the previous year. The December inflation rate is the same as the flash estimate published on 5 January.
The CPI also presents the price development on the previous month. Consumer prices in December 2023 were on average at virtually the same level as they were in November 2023.
Price developments of energy (gas, electricity and district heating) has long had a major impact on the course of inflation. The inflation rate excluding energy and motor fuels was 3.4 percent versus 4.2 percent in November.
With the December figure being known, the inflation rate for the entire year can also be calculated. On average, consumer prices were 3.8 percent higher in 2023 than they were in the previous year. The inflation rate excluding energy was 6.5 percent.
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