Energy, Telecommunications, Economy & more | News from the Netherlands

May 2023: Inflation Rises to 6.1%

According to CBS data, inflation in the Netherlands rose to 6.1% in May 2023, up almost one percentage point compared to April (5.2%). On average, consumer goods and services were 6.1% more expensive than in May 2022. Without considering price developments of energy and motor fuels, inflation was as high as 7.9%.

The rise in inflation was mainly fuelled by energy price developments, despite energy being 24.9% cheaper in May than last year. On the other hand, Motor fuels had a downward effect on inflation; these were 18.3% cheaper than a year earlier.

CBS will use a new measurement method for energy prices in the CPI from June 2023, ensuring a more accurate inflation figure. In addition, the data show that consumer prices rose 0.2% in May 2023 compared to April. However, euro area inflation fell to 6.1% in May from 7.0% in April.

Sources:
[1] CBS, "Inflatie stijgt naar 6,1 procent in mei", https://www.cbs.nl/nl-nl/nieuws/2023/23/inflatie-stijgt-naar-6-1-procent-in-mei, retrieved on 6 June 2023.
 

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