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Financial News: Dutch Inflation Confirmed At 6-Month High

Dutch Inflation Confirmed At 6-Month High

02/08/2024 - 02:13:00 (RTTNews)

(RTTNews) - The Netherlands' consumer price inflation accelerated to the highest level in six months, as initially estimated at the start of the year, final data from the Central Bureau of Statistics showed Thursday.

The consumer price index rose 3.2 percent year-over-year in January, faster than the 1.2 percent increase in December. That was in line with the flash data published on February 1.

This was the highest rate since July 2023, when prices had risen 4.6 percent.

A smaller drop in energy prices had an upward effect on inflation. In January, energy was 9.2 percent cheaper than last year, but in December, prices were still 42.1 percent lower than in the same month a year earlier.

Excluding energy and motor fuels, inflation was 3.5 percent in January versus 3.4 percent in the prior month.

On a monthly basis, consumer prices moved up 0.5 percent in January, as estimated.

Inflation based on the Harmonised Index of Consumer Prices, or HICP, also climbed to 3.1 percent in January from 1.0 percent in the previous month, confirming the flash data.

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