Statistics Netherlands (CBS) reports that the consumer price index (CPI) was 2.8 percent higher in March than in the same month last year. This is the highest price increase since September 2013. In February, prices of consumer goods and services were up by 2.6 percent year-on-year.

The consumer price index (CPI) is an important indicator for inflation, but not the only one. It is an index for price changes in a basket of consumer goods and services, such as groceries, clothing, petrol, rent and insurance premiums. Inflation is a broader term which covers more than consumer goods and services; for example, prices of owner-occupied houses, manufactured products, shares and gold are also subject to change.

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Consumer price index (CPI) (year-on-year % change)
YearMonthYear-on-year change
2014January1.4
February1.1
March0.8
April1.2
May0.8
June0.9
July0.9
August1
September0.9
October1.1
November1
December0.7
2015January0
February0.2
March0.4
April0.6
May1.1
June1
July1
August0.8
September0.6
October0.6
November0.7
December0.7
2016January0.6
February0.6
March0.6
April0
May0
June0
July-0.2
August0.2
September0.1
October0.4
November0.6
December1
2017January1.7
February1.8
March1.1
April1.6
May1.1
June1.1
July1.3
August1.4
September1.5
October1.3
November1.5
December1.3
2018January1.5
February1.2
March1
April1.1
May1.7
June1.7
July2.1
August2.1
September1.9
October2.1
November2
December2
2019January2.2
February2.6
March2.8

Increase in food and fuel prices

In March, consumers paid 3.8 percent more for food than one year previously, while in February prices increased by 3.2 percent. The increase in March is mainly due to higher fruit, meat and potato prices. In the past decade, the price increase of food has been this high only twice. Consumer prices were pushed further upwards by the price development of motor fuel as well. In March, the price of petrol at the filling station was 5.0 percent up , while in February it was 0.9 percent up year-on-year.

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Rise in Dutch consumer prices higher than in eurozone

In addition to the consumer price index (CPI), CBS also calculates the European harmonised price index (HICP).

In March, HICP-based prices of goods and services in the Netherlands were 2.9 percent up year-on-year versus 2.6 percent in February. In the eurozone, the price increase went down from 1.5 to 1.4 percent. The increase in the Netherlands was twice as high as in the Eurozone.