Inflation in Netherlands

Netherlands Inflation | Economic News & Forecasts

Netherlands - Inflation

Harmonized inflation comes in at record-high level in August

Harmonized inflation rose to 13.7% in August, following July’s 11.6%. August's figure was the highest inflation rate since records began. The increase was broad-based, with greater price pressures recorded for food, energy and industrial goods.

The trend pointed up, with annual average harmonized inflation coming in at 8.5% in August (July: 7.6%). Meanwhile, consumer price inflation rose to 12.0% in August, from the previous month's 10.3%. This marked the highest print since at least 1963, when current records began.

On a monthly basis, harmonized consumer prices rose 2.35% in August. This was up from July’s 2.17% increase and marked the strongest monthly expansion since March.

Analysts at the EIU added:

“Annual inflation in the Netherlands has been in double digits since March […]. As elsewhere in the region, this is mainly linked to supply bottlenecks and higher global commodity prices. However, a peculiarity related to the authorities' calculation of the utility price component of inflation […] means that inflation has been higher than in most other countries in the region. […] We forecast average inflation of 10.8% in 2022, slowing to a still-high 8.4% in 2023.”

FocusEconomics panelist expect harmonized inflation to average 9.7% in 2022, which is up 0.7 percentage points from last month, and 4.4% in 2023, which is up 0.5 percentage points from last month.

Netherlands - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.6  0.3  1.4  1.7  2.6  

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Netherlands Inflation Chart

Netherlands Inflation
Note: Annual variation of consumer price index (HICP) in %.
Source: Statistics Netherlands and FocusEconomics calculations.

Netherlands Facts

Value Change Date
Bond Yield-0.065.70 %Jan 01
Exchange Rate1.120.65 %Dec 31

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