Dutch inflation rate eases to 5.7% in June 2023: CBS
13 Jul 23 1 min read
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.
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.
- Dutch inflation steady at 2.7%, clothing prices plunge in May
- Poland’s consumer prices up 2.5% YoY in May; goods prices up 1.2% YoY
- Signs of economic recovery emerge in Sri Lanka, inflation low: IMF
- China's consumer prices rise for 4th consecutive month in May
- India's WPI inflation rises to 2.61% in May 2024
- April sees notable increase in garment prices in US: Cotton Inc
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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