Dutch inflation rate eases to 5.7% in June 2023: CBS

13 Jul '23

1 min read

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Insights

Dutch inflation slowed to 5.7 per cent in June 2023, down from 6.1 per cent in May, according to Statistics Netherlands.
If energy and fuel prices are excluded, inflation would be at 7.2 per cent, down from May's 7.9 per cent.
While clothing and footwear inflation rates decreased, energy prices had an upward effect on inflation despite being cheaper YoY.

In June 2023, consumer goods and services in the Netherlands were 5.7 per cent more expensive than the same period last year, according to Statistics Netherlands (CBS). This is a slight decrease from the inflation rate of 6.1 per cent in May 2023.

Excluding energy and motor fuels, the inflation rate for June would have been 7.2 per cent, a drop from May's rate of 7.9 per cent.

Sector-specific data revealed that the inflation rate for clothing and footwear was 0.45 per cent in June 2023, a decrease from the 0.64 per cent recorded in May 2023, as per CBS.

The cost of energy had an upward influence on the overall inflation rate, despite energy being 19.1 per cent cheaper in June compared to the same month last year. In contrast, the year-on-year price decrease was more significant in May, at 24.9 per cent.

Notably, consumer prices fell by 0.3 per cent in June 2023 compared to May 2023. The highest price level over the past year was recorded in October 2022, after which a downward trend was observed until February 2023. From February to May, prices increased consecutively for four months, before falling in June compared to the previous month.

Fibre2Fashion News Desk (DP)

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