Netherlands' inflation rate decreases to 3.5% in Sept 2024

Prices for clothing had an upward effect on inflation. In September, clothing was 2.1 per cent more expensive than in September 2023, while in August it was 3.5 per cent cheaper than in August 2023.

Inflation fell due to lower prices for motor fuels. Motor fuel prices were 11.3 per cent lower in September than in September 2023. In August, fuels were 5.6 per cent less expensive than in the same month last year. A litre of Euro 95 (fuel) cost an average of €1.88 (~$2.06) in September, compared with €1.95 (~$2.14) in August. The price of a litre of diesel has decreased from €1.67 (~$1.83) in August to €1.61 (~$1.76) in September, stated the report.

As per the European Harmonised Index of Consumer Prices (HICP), consumer goods and services in the Netherlands were 3.3 per cent more expensive in September. In August, the inflation rate was also 3.3 per cent according to the HICP. Inflation in the euro area was 1.8 per cent in September, down from 2.2 per cent in August. Inflation in the Netherlands is higher than in the euro zone primarily due to the rising prices for tobacco and services.

Fibre2Fashion News Desk (SG)