Dutch inflation rises to 3.7% in October as gas prices climb

Consumer prices in the Netherlands were 3.7% higher in October than a year earlier, Statistics Netherlands (CBS) reported on 10 November. Inflation was 3.4% in September. The October figure is the same as the quick estimate CBS published on 4 November.

Prices also rose 0.7% compared with September. Over the past 10 years, prices in October were on average 0.5% higher than in September. CBS says only October 2021 and October 2022 saw a larger increase than this October.

Gas pushes inflation up

Higher energy prices were the main reason inflation rose. Natural gas was 11.7% more expensive than a year earlier, after a rise of 7.4% in September.

Housing and utilities, the group that includes energy, added 1.14 percentage points to the annual rate, more than any other group. Transport added 1.04 points.

Fuel and food

Fuel worked the other way in October. Petrol was 22.6% more expensive than a year earlier, after a rise of 27.3% in September. Diesel cost 44.4% more, against 45.8% in September.

Food and non-alcoholic drinks were 1.1% cheaper than a year earlier, after a fall of 1.7% in September. CBS says food prices also contributed to the rise in inflation.

The Netherlands and the eurozone

On the harmonised measure that is used to compare EU countries, Dutch inflation rose to 3.3% in October, from 3.0% in September. Inflation in the euro area as a whole rose from 3.8% to 4.0%.

According to CBS, food, drinks and tobacco were cheaper than a year earlier in the Netherlands but more expensive in the eurozone as a whole. Energy prices, including motor fuels, also rose faster across the eurozone than in the Netherlands.