Latest reading: Consumer prices rose 0.7% on a year-on-year basis in January, following a 1.3% rise in the previous month....
Inflation in Netherlands
Harmonized consumer price inflation averaged 2.6% in the ten years to 2024. The 2024 average figure was 3.2%. For more inflation information, visit our dedicated page.
Netherlands Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Netherlands from 2014 to 2025.
Source: Macrobond.
Netherlands Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 1.1 | 2.8 | 11.6 | 4.1 | 3.2 |
| Inflation (HICP, ann. var. %, eop) | 0.9 | 6.4 | 11.0 | 1.0 | 3.9 |
| Inflation (PPI, ann. var. %, aop) | -3.2 | 10.1 | 20.4 | -0.2 | -0.6 |
Inflation eases in December from November
Latest reading: Harmonized consumer prices were up 2.5% in annual terms in December, following a 2.6% increase in the prior month. The reading remained above the euro area average and the ECB’s 2.0% target. Relative to the previous month's data, there were milder price pressures for food and non-alcoholic beverages (+3.3% on a year-on-year basis vs +3.4% in November), recreation (+2.2% vs +2.7% in November) and restaurants and hotels (+2.2% vs +4.2% in November). In contrast, price pressures were higher for transportation in December (+2.1% vs +1.8% in November). Finally, the change in housing and utilities prices was the same as in the prior month (+3.6% in December and November). Meanwhile, consumer prices increased 2.8% on a year-on-year basis in December, following a 2.9% increase in the previous month. Lastly, harmonized consumer prices were up 0.18% in December on a month-on-month basis, following a 1.38% fall in the prior month.
Panelist insight: Marcel Klok, ING’s senior economist, commented on this year’s outlook: “Going forward, the expected negative contribution of energy prices, in particular, will prompt headline HICP inflation to approach the 2% target in our baseline forecast for 2026.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Dutch inflation projections for the next ten years from a panel of 20 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Dutch inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Dutch inflation projections.
Want to get access to the full dataset of Dutch inflation forecasts? Send an email to info@focus-economics.com.
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