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Dutch inflation rate remains steady at 3.6% in August 2024

12 Sep '24

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Dutch inflation rate remains steady at 3.6% in August 2024

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In August, consumer goods and services in the Netherlands were 3.6 per cent more expensive than a year earlier, a slight drop from July's 3.7 per cent.
Lower clothing prices, 3.5 per cent cheaper than in August 2023, tempered inflation.
The HICP inflation rate was 3.3 per cent, while eurozone inflation stood at 2.2 per cent, down from 2.6 per cent in July.

Consumer goods and services in the Netherlands were 3.6 per cent more expensive in August 2024 compared to the same month last year, according to Statistics Netherlands (CBS). This marks a slight increase from July’s inflation rate of 3.7 per cent. The August inflation rate aligns with the flash estimate published on August 30.

A key factor tempering the inflation rate in August was lower clothing prices. In August 2024, clothing was 3.5 per cent cheaper compared to the previous year, contrasting with a 2.1 per cent price increase in July 2023.

According to the harmonised index of consumer prices (HICP), a metric used for cross-country comparisons within the European Union, consumer goods and services in the Netherlands were 3.3 per cent more expensive in August, down slightly from 3.5 per cent in July. Meanwhile, inflation in the eurozone as a whole was significantly lower at 2.2 per cent in August, down from 2.6 per cent in July, as per CBS.

Fibre2Fashion News Desk (DP)

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