The Consumer price inflation in Netherlands attained a value of 3.20 % in 2024
The indicator recorded a historical change (bps difference) of 53 bps between 2021 to 2024, and is expected to decline by...
GlobalData projects the figure to change by 81 bps between 2025 and 2029, reaching...
Inflation
Inflation is an upsurge in the level of prices of the goods and services in an economy, which leads to a decline in the purchasing power of the currency’s value. It is calculated as the rate of change in prices in a specific period. The consumer price index (CPI) is one of the most common indicators for measuring inflation in an economy.
Global Inflation
Global inflation is a measure of the average annual rate of growth increase in national prices across all countries. It can be calculated using various methods including simple average, weighted average, and median price change. Global Data forecasts that the world economy will grow at a slower pace of 3.5% in 2022 following a 5.9% growth in 2021. On the other hand, the global inflation rate is projected to rise to 6.5% in 2022 from 3.5% in the previous year due to supply chain disruption amid the Ukraine-Russia war.
Consumer Price Inflation in the Netherlands
Between 2018-2021, the consumer price inflation in the Netherlands was highest in the year 2021, reaching 2.67%, an increase of 1.17% over the previous year 2020. Between 2018 to 2021, Netherlands’ consumer Inflation increased by 0.5%.
According to GlobalData, inflationary pressure surged to 2.7% in 2021, due to supply chain constraints and a rise in global demand. According to Statistics Netherlands (CBS), the inflation rate stood at 7.2% in February 2022, which increased to 11.9% in March 2022 due to Russia’s invasion of Ukraine. The Dutch government introduced energy subsidies and a reduction in taxes on petrol, diesel, and energy to offset the effect of the rising in the price level. GlobalData expects the inflation rate to further rise to 5.8% in 2022.
Factors that Impact Inflation Rate
Some of the major factors affecting consumer prices are government policies, money supply, consumer spending, employment levels, high disposable income, and wage levels. Interest rates can also have a significant impact on spending on consumer goods.
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