Dutch Inflation Rate Slows to 2-Year Low

The annual inflation rate in the Netherlands eased to 2.4% in January 2026 from 2.8% in the previous month, according to preliminary estimates. This marked the lowest reading since December 2023, as price growth slowed across most product groups, particularly food, beverages, and tobacco (2.0% vs 3.1% in December). Inflation also moderated for industrial goods excluding energy and motor fuels (0.6% vs 0.9%) and for services (3.9% vs 4.1%). On the other hand, energy prices including motor fuels rebounded (0.4% vs -0.4%). Meanwhile, the index for consumption abroad rose 0.2% year-on-year, easing from a 0.5% increase in December. On a monthly basis, consumer prices were expected to fall by 0.7%, following a 0.2% increase in the previous month. HICP-based annual inflation, which excludes owner-occupied housing costs, was estimated at 2.2%, down from 2.7% in December.

The annual inflation rate in the Netherlands eased slightly to 2.8% in December from 2.9% in November, confirming preliminary estimates. This marks the lowest level since August, mainly driven by a sharper fall in bungalow park prices (-4.5% vs -0.3% in November) and lower motor fuel costs (-2% vs 0.6%). In main departments, inflation slowed for food and non-alcoholic beverages (3.3% vs 3.4%), recreation and culture (2.2% vs 2.6%), and restaurants and hotels (2.8% vs 4.4%). In contrast, price growth picked up for transport (1.9% vs 1.8%) and clothing and footwear (1.0% vs 0.6%), while inflation was unchanged for housing and utilities (4.1%) and furnishings and household appliances (0.4%). On a monthly basis, consumer prices were flat after a 0.8% decline previously. Meanwhile, HICP inflation, which excludes owner-occupied housing, eased marginally to 2.5% from 2.6% in November.

The annual inflation rate in the Netherlands eased slightly to 2.8% in December 2025 from 2.9% in November, according to preliminary estimates. This marked the lowest reading in four months, driven by a decline in energy costs, including motor fuels (-0.4% vs 0.8% in November), and a slowdown in services inflation (4.1% vs 4.3%). In contrast, price growth picked up for industrial goods excluding energy and motor fuels (0.9% vs 0.5%), while inflation for food, beverages, and tobacco remained unchanged at 3.1%. On a monthly basis, consumer prices were expected to show no growth, following a 0.8% decline in November. Meanwhile, HICP-based annual inflation, which excludes owner-occupied housing costs, was estimated at 2.5% in December, slightly lower than 2.6% in November.