If you’ve noticed your bills were looking suspiciously high this month, you’re not wrong — prices were higher this November than at the same time last year.
The CBS (Central Bureau for Statistics) calculated a 4% average increase in prices compared to last year. Three products were hit particularly hard. 👇
The essentials (and tobacco)
Food, drinks, and tobacco were all hit the hardest by inflation — seeing a price increase of 6.2% on average, according to NU.nl.
Tobacco plays the largest role in this since its excise duty increase in April. (If you needed that final push to quit smoking, there you have it. 😉)
Quitting eating and drinking is not really an option, however, so we’ll just have to put up with a higher grocery bill.
READ MORE | Saving money in the Netherlands: 5 Ways to Save Money Like the Dutch
If you were hoping that the price increases were limited to products, we have another disappointment for you. The average price of services also increased by 5.5% compared to the same time last year.
The only shining exception is energy — where prices decreased by 0.1%. Hey, at least it’s something!
Not too bleak
However, while an average inflation level of 4% sounds bad, it’s still reasonably under control — if you compare it to the crazy 14.5% that was reached two years ago, that is.
READ MORE | Dutch savings accounts: Best interest rates in the Netherlands in November 2024
If you compare it to the DNB’s (Bank of the Netherlands) goal of 2%… yeah, there’s still room for improvement. 😬
Do you have any tips on how to save money in the Netherlands? Leave them in the comments below!