Inflation in the Netherlands cooled to 2.7 percent in April. The Central Bureau of Statistics (CBS) reports this in a quick estimate. This meant that inflation was lower than in March. Then daily life became 3.1 percent more expensive compared to a year earlier. In February inflation was still 2.8 percent.
The cooling inflation is mainly related to energy prices and the prices of motor fuels at the pump. In March, energy and motor fuels became 3.7 percent more expensive. In April there was a smaller increase of 3.3 percent. The price increase of food, drinks and tobacco was higher in April than in the previous month.
Economists from ABN AMRO and RaboResearch previously indicated that price increases will be lower due to a decline in goods prices, but also in raw material prices. Consumers are therefore noticing that grocery prices are rising less rapidly than before.
During rising inflation, consumers in supermarkets started looking for alternatives to the relatively expensive A-brands. Major groups behind products such as Gillette razor blades, Ariel detergent and Dove shower gel are now selling more, these companies announced in recent weeks. Yet they also continue to raise their prices.
In recent months, prices at the pump have also risen considerably, following the higher oil prices. This was partly due to tensions in the Middle East, which can hinder supplies from oil-rich countries.
Dutch inflation based on the European harmonized calculation method was 2.6 percent in April, compared to 3.1 percent in March. This calculation method is slightly different from that of Statistics Netherlands. The method agreed within the European Union to measure inflation does not take into account the costs of living in your own home.
The European statistical agency Eurostat will also present a preliminary estimate of inflation in the euro zone in April later in the morning. Inflation in the euro area was 2.4 percent in March, compared to 2.6 percent in February.
