08 November 2022, by Victoria Séveno

According to the latest figures from Statistics Netherlands (CBS), the Dutch inflation rate fell slightly to 14,3 percent in October. In spite of this, however, food prices across the country continue to rise. 

Inflation in the Netherlands falls to 14,3 percent

After inflation reached record highs in September, CBS reports that October once again saw the national inflation rate fall, albeit slightly, with prices for goods and services being an average of 14,3 percent higher than this time last year. 

CBS attributes the slight dip to the changes to the prices of energy and fuel, as gas prices experienced a sharp drop last month. According to the most recent data, gas and electricity were 173 percent more expensive last month than in October 2021, compared to the 200 percent increase recorded in September of this year.

Fuel prices have also fallen slightly, with CBS recording an increase of 7,5 percent in October compared to the 11,4 percent recorded in September. The prices of food and clothing, on the other hand, increased further in October. While clothes have become an average of 9,4 percent expensive over the past year, CBS reports that food prices have risen by a whopping 14 percent, explaining that this is largely due to the rising prices of bread, grains, and dairy products. 

Dutch inflation rate significantly higher than European average

While the inflation figures published by CBS using the CPI method are high, they remain slightly lower than the figures published by Eurostat at the end of October. Using the HICP method, the European statistics office calculated that inflation in the Netherlands fell from 17,1 percent in September to 16,8 percent in October. 

Inflation remains high across the continent, although the Dutch figures are higher than the EU average. According to Eurostat, inflation in the Eurozone rose from 9,9 percent in September 2022 to 10,7 percent last month.

Thumb: Ellyy via Shutterstock.

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