Inflation edges upwards in February

10th March 2005, Comments 0 comments

10 March 2005, AMSTERDAM — Petrol and fresh vegetable prices edged the inflation rate in the Netherlands up to 1.6 percent in February, 0.1 percent higher than in January.

10 March 2005

AMSTERDAM — Petrol and fresh vegetable prices edged the inflation rate in the Netherlands up to 1.6 percent in February, 0.1 percent higher than in January.

Statistics Netherlands — more commonly known as the CBS — said consumer prices, led by the price of clothes and footwear, rose in average 0.5 percent compared with the month before.

This is a usual seasonal occurrence as sales come to an end and shops introduce their summer lines, the CBS said.

The combined effect of higher prices for vehicle fuel and fresh vegetables pushed the overall level up by 0.1 percent to 1.6 percent. The price of coffee also rose in February.

The CBS said inflation had already risen to 1.5 percent in January due to a sharp increase in the price of gas and electricity. The average rate of inflation for the whole of last year was 1.2 percent.

Despite the price increases for vegetables, fruit and coffee, the total range of foodstuffs and alcohol-free drinks was on average 2.2 percent cheaper than a year earlier.

Yet this is well down on January, when these goods were on average 3.4 percent less expensive than the year before.

Dutch inflation measured by the European harmonised method (HICP) came to 1.5 percent in February, up from 1.2 percent in January. This inflation rate in January put the Netherlands second only to Finland for the 10 straight month in the eurozone inflation league.

Sweden and Denmark, two EU states not in the eurozone, also had lower inflation than the Netherlands in January.

The EU statistics body Eurostat estimates that the average inflation rate in the eurozone for February will be 2 percent.

[Copyright Expatica News 2005]

Subject: Dutch news

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