Dutch Inflation Rate Picks Up to 3.1%

The annual inflation rate in the Netherlands picked up to 3.1% in July 2026 from 2.9% in the previous month, according to preliminary estimates. Price growth accelerated for energy, including motor fuels, rising to 9.7% from 6.0% in June, amid a resurgence in global energy costs after the Middle East conflict escalated during the month. Inflation also edged higher for industrial goods excluding energy and motor fuels (0.8% vs. 0.7%). Meanwhile, price growth for services remained unchanged at 4.1%, while inflation for food, beverages, and tobacco was also unchanged at 0%. The index for consumption abroad increased 4.8% year-on-year, easing from a 5.7% rise in the previous month. On a monthly basis, consumer prices are expected to jump 1.6%, following a 0.6% decline in June. HICP-based annual inflation, which excludes owner-occupied housing costs, came in at 2.9% in July, up from 2.5% in June.

The annual inflation rate in the Netherlands eased to 2.9% in June 2026, confirming preliminary estimates and down from a one-year high of 3.5% in May. The slowdown was largely driven by transport inflation, which eased to 6.9% from 9.9% amid lower motor fuel prices as global oil prices declined. Inflation also moderated for health (0.7% vs. 0.8%), recreation and culture (2.6% vs. 2.8%), and restaurants and hotels (4.2% vs. 6.5%). Meanwhile, prices declined for food and non-alcoholic beverages (-0.5% vs. 0.1%), clothing and footwear (-0.5% vs. 0.4%), and information and communication (-1.4% vs. -0.8%). In contrast, price growth edged up for housing and utilities (3.6% vs. 3.5%) and rebounded for household goods and services (0.3% vs. -0.3%). On a monthly basis, consumer prices fell 0.6%, the first decline since January, following a 0.1% increase in May. Annual HICP inflation, which excludes owner-occupied housing, eased to 2.5% from 3.4% in May.

The annual inflation rate in the Netherlands accelerated to 3.5% in May 2026 from 2.8% in April, confirming preliminary estimates and marking the highest reading since April last year. The main upward pressure came from higher transport inflation (9.9% vs 6.9% in April), primarily driven by increased costs of international flights, with airline tickets 12.3% more expensive than a year earlier. Price growth also picked up for housing and utilities (3.5% vs 3.3%), recreation and culture (2.8% vs 1.6%), and restaurants and accommodation (6.5% vs 3.9%). In contrast, inflation eased sharply for food and non-alcoholic beverages (0.1% vs 1.4%), while deflation persisted for household goods and services (-0.3% vs -0.4%). On a monthly basis, consumer prices rose just 0.1%, following a 1.1% jump in April, which was the largest increase in nine months. Meanwhile, annual HICP inflation, which excludes owner-occupied housing, picked up to 3.4% from 2.5% in April.