FX.co ★ Dutch Inflation Climbs to 3.3% in September

In September 2025, the Netherlands experienced an uptick in its annual inflation rate to 3.3%, rising from 2.8% in August, as per preliminary estimates. This marks the highest rate since May. The increase was primarily driven by a surge in energy inflation, which jumped to 4% from 1.6% in the preceding month. Additionally, the growth in services prices accelerated to 4.1% from 3.8%, and the prices for industrial goods, excluding energy and motor fuels, edged slightly higher to 1.5% from 1.4%. The inflation rates for food, beverages, and tobacco held steady at 3.7%. On a month-over-month basis, consumer prices are projected to decline by 0.1%, marking the first decrease since May, after a 0.2% rise in August. Meanwhile, the harmonized consumer price index (HICP)—used for EU-level comparisons and excluding housing costs—indicated an increase to 3% in September, from 2.4% in August.