The annual inflation rate in the Netherlands fell to 7.6% in January, marking the fourth straight month of decline, according to Statistics Netherlands.
In December, consumer goods and services were 9.6% more expensive than the previous year.
The government’s cap on energy prices had a major impact on inflation, causing energy to be 3.4% cheaper in January than in the same month in 2022.
Energy prices were 52% higher in December compared to the previous year.
While energy is a significant factor in overall inflation, the actual effect on inflation is lower because most households do not need a new energy contract every month.
CBS is exploring ways to measure this impact accurately.
In addition to energy, the price of clothing also contributed to the decline in inflation.
Clothing was 9.4% more expensive in January than 12.3% in December.
However, childcare, food, and petrol prices had the opposite effect, pushing inflation higher.
Childcare was 6.3% more expensive in January than 2.2% in December.
Food cost 17.6% more (17.0% in December), and petrol cost 10.3% more (8.2% in December).