Inflation rates by country and year
Data: World Bank, annual %. For information only — not financial advice.
Behind the curve
Turning points in Netherlands
- 1973↑ Upward pressure
The oil crisis and energy transition ↗ — Wikipedia (opens in a new tab)
The first oil crisis interrupted the Netherlands’ energy expansion and raised imported fuel costs. Energy prices became a major influence on Dutch consumer prices in the 1970s.
- 2009↓ Downward pressure
Recession and lower import prices ↗ — Wikipedia (opens in a new tab)
The global recession reduced demand and import prices. Lower oil prices and weaker activity helped bring Dutch inflation down after the 2008 commodity-price spike.
- 2020↓ Downward pressure
The pandemic and low oil prices ↗ — Wikipedia (opens in a new tab)
Reduced demand and the low oil price affected Dutch inflation during the coronavirus crisis. The later recovery brought supply constraints and renewed price pressure.
- 2022↑ Upward pressure
Gas, electricity and the energy shock ↗ — Wikipedia (opens in a new tab)
Energy prices, especially electricity, gas and district heating, were the main reason Dutch consumer prices rose by 10.0% on average in 2022. Supply difficulties and the war in Ukraine added to the shock.
These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.