Inflation will not fall further in May

This article was last updated on May 31, 2024

Canada: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…
USA: Oye! Times readers Get FREE $30 to spend on Amazon, Walmart…

Inflation will not fall further in May

Inflation in the Netherlands did not fall further in May. Inflation amounted to 2.7 percent, the same as in April, according to an initial calculation by the Central Bureau of Statistics (CBS).

In the past month, energy and services in particular have become more expensive, while the price of industrial goods fell.

In European perspective

The European statistical agency Eurostat also estimates an inflation rate of 2.7 percent for the Netherlands. The European average is 2.6 percent, two percentage points higher than a month earlier.

The inflation figures from Statistics Netherlands and Eurostat may differ because they use a different calculation method.

Interest notice expected

Since July 2022, the European Central Bank (ECB) has been fighting inflation by gradually raising key interest rates. The ECB aims for an average inflation of 2 percent for the entire eurozone.

Inflation has fallen sharply from the peak of 14 percent, but is still somewhat higher than the target.