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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NETHERLANDS
Dutch flash HICP inflation rose to 3.36%Y/Y in June, up from 2.68% in May. This equates to a 0.17% sequential increase. Core HICP inflation accelerated to 3.13% from 2.46% in May - some base effects might be in play here.
- Concerningly, services inflation remains sticky. The Y/Y print increased 0.19ppt to 5.42% Y/Y (vs 5.23% May). However, there was a 0.27% M/M decline (smaller than the 0.46% M/M decline seen last year). Over the eight years 2016-2023 the mean June services M/M change is a 0.07% increase.
- However, the bigger driver was within the goods categories. Processed food, beverage and tobacco printed at 4.80% Y/Y (vs 3.44% May), unprocessed foods rose to 2.09%Y/Y (1.61% in May), and non-energy industrial goods (NEIG) came in at -0.48% Y/Y (vs -1.81% May). Energy inflation meanwhile slowed, to 3.44% Y/Y (vs 4.01% May).
- The national CPI meanwhile rose to 3.2% Y/Y (vs 2.72% May).
- The print might slightly upwardly bias our Eurozone-wide HICP tracking estimate. The overall EZ print is set to be released at 10:00 BST today.
- For reference, Netherlands represents 5.7% of the overall 2024 Eurozone HICP basket.
MNI, CBS.NL
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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