Inflation is hardly falling, the Netherlands has the second highest inflation in the eurozone

This article was last updated on October 1, 2024

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Inflation is hardly falling, the Netherlands has the second highest inflation in the eurozone

Price increases for goods and services remain above average. Inflation stood at 3.5 percent in September, only a tenth lower than a month earlier.

This is evident from figures from the Central Bureau of Statistics. Price increases were highest in the food, beverage and tobacco categories. On average, that category is 6 percent more expensive than a year ago. Tobacco in particular became more expensive.

Services became 5.6 percent more expensive, and energy was cheaper than a year earlier. The statistics agency will announce detailed figures about the price increases next week.

European inflation lower

The Netherlands is one of the countries in the eurozone with the highest inflation. Only Belgium has higher inflation at 4.5 percent. On average, things are going in the right direction in the eurozone. Inflation fell from 2.2 to 1.8 percent in September.

The European Central Bank is satisfied with that decline. In recent years, the central bank has raised interest rates to combat inflation, but in recent months the bank has been lowering interest rates because the problem of high inflation would soon be over.

The central bank expects inflation to fall further in the coming year.