Inflation Netherlands 2023
Average inflation: 3.9% (Derived: 3.2%)
Current Inflation
Inflation is high at 3.9%, well above the ECB target.
Peak and Trough
The highest inflation was in February at 8.0%. The lowest inflation was in October at -0.4%.
- Highest month
- February: 8.0%
- Lowest month
- October: -0.4%
- Difference
- 8.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 12.1%. The lowest price increase was in Energy with an average of -33.4%.
- Highest increase
- Food and non-alcoholic beverages: 12.1%
- Lowest increase
- Energy: -33.4%
Historical Context
Current inflation is around the 5-year average of 4.1%.
- 5-year average
- 4.1%
- 10-year average
- 2.6%
- All-time high (2022)
- 10%
- All-time low (2016)
- 0.3%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -6.1 percentage point.
- Change vs. previous year
- -6.1 percentage points
- Largest monthly swing
- October: -14.7 percentage points
ECB Target
Inflation is 1.9% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Derived CPI | Difference vs. 2022 |
|---|---|---|---|
| January | 7.6% | 7.6% | +1.2 |
| February | 8.0% | 8.0% | +1.8 |
| March | 4.4% | 4.5% | -5.3 |
| April | 5.2% | 5.0% | -4.4 |
| May | 6.1% | 5.8% | -2.7 |
| June | 5.7% | 5.4% | -2.9 |
| July | 4.6% | 3.3% | -5.7 |
| August | 3.0% | 1.6% | -9.0 |
| September | 0.2% | -1.4% | -14.3 |
| October | -0.4% | -2.0% | -14.7 |
| November | 1.6% | 0.2% | -8.3 |
| December | 1.2% | -0.2% | -8.4 |
| Average | 3.9% | 3.2% |
Data source
Data from CBS. Last updated: 08/01/2026.