Food inflation is now over 17%, the highest percentage measured yet, says De Jong. ‘But what is striking is that for several components it can be seen that the price increases have passed the high point. Vegetables, for example, are more than 13% more expensive than a year earlier, but in December, that percentage was still just under 14%. These are small but beneficial developments.’
Very little is saved from high inflation. For example, spirits, which have become ‘only’ 2 percent more expensive than last year.
Price limit
According to De Jong, the new data reveal details and the introduction of the price cap is clearly visible. Gas has become 42% cheaper in one month, most likely due to the cap, thinks De Jong. Compared to a year earlier, gas is now almost 20% cheaper. Electricity became 23% cheaper in one month, but still more than 13% more expensive than a year earlier.
2023
De Jong points out that the price cap has caused a sharp one-off drop in inflation. “But of course it won’t happen again.” However, De Jong expects inflation to continue declining gradually and “very slowly”.
At 9.6%, inflation in the Netherlands was slightly lower in December than it was in November when inflation was 9.9%.