The latest figures from Statistics Netherlands (CBS) reveal that the Dutch inflation rate fell slightly last month, from 8,8 percent in May to 8,6 percent in June, but that food prices have risen by a staggering 11,2 percent since last summer.
Inflation rate in the Netherlands fell slightly in June 2022
After reaching record levels in March, inflation in the Netherlands has been falling steadily since the spring. According to the most recent calculations carried out by CBS using the CPI method, the price of goods and services has risen by 8,6 percent over the past year.
While prices across practically all sectors and industries remain high, CBS highlights the stagnating cost of energy and clothing as critical reasons for the slight decrease in the national inflation rate. Gas and electricity were 84 percent more expensive in June than a year earlier, compared to 105 percent in May and 136 percent in April.
Food and drink 11,2 percent more expensive than a year ago
Some prices may be falling, but the cost of living in the Netherlands remains high – specifically as a result of the rising cost of food and drink. CBS calculates that food products were 11,2 percent more expensive in June 2022 than in the same month last year.
The rising price of dairy products contributed significantly to the high inflation rate, however, prices have risen across the board, with vegetables, fruits, fish, oils, and grains all becoming more expensive over the past year. According to CBS, food prices have been steadily rising since September of last year.
Eurostat: Dutch inflation rate remains higher than European average
While the inflation rate calculated by CBS is undoubtedly high, it remains slightly lower than the figure reported by the European statistics office (Eurostat) last week. According to the HICP method used by Eurostat, inflation in the Netherlands was 9,9 percent in June. Eurostat reported rising prices across the bloc, but noted that the Dutch inflation rate remains higher than the European average.
Those living and working in the Netherlands have certainly noticed the rising prices, and while those with jobs in certain sectors have seen their salaries rise at unprecedented rates, Dutch wages remain unable to keep up with the high rate of inflation.