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Financial News: Dutch Inflation Steady At 1.2%

Dutch Inflation Steady At 1.2%

06/09/2020 - 03:12:00 (RTTNews)

(RTTNews) - Dutch consumer prices increased at a steady pace in May, data from the Central Bureau of Statistics showed on Tuesday.

The consumer price index rose 1.2 percent year-on-year in May, the same as seen in April.

Prices for tobacco increased 12.0 percent annually in May. Meanwhile prices for motor fuels decreased 14.1 percent.

The price development of clothing had a depressing effect on consumer price inflation, the agency said.

Inflation based on the Harmonized Index of Consumer Prices, or HICP, rose to 1.1 percent in May from 1.0 percent in the previous month.

Separate data from the statistical office showed that the industrial production declined 11.0 percent annually in April, following a 1.9 percent fall in March. This was the biggest decline since mid-2009.

Among various segments, transportation declined the most in April as factories were closed due to the coronavirus pandemic.

Production was lower in almost all segments compared to the previous year, except in the machinery and pharmaceutical industries, the agency said.

On a seasonally adjusted basis, industrial production fell 8.1 percent in April.

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