Statistics Netherlands: average inflation rate over 2015 lowest since 1987

 1/11/2016   CBS    Economy

Statistics Netherlands (CBS) reports that the inflation rate over 2015 averaged 0.6 percent, the lowest increase in consumer prices since 1987. Falling oil prices in particular kept inflation low.

Inflation exceptionally low
Average inflation has been unusually low for the second year in a row. In 2014, inflation averaged 1.0 percent. With the exception of 1986 and 1987, the average consumer price increase in 2015 was the lowest in the past half century. Prices of many consumer products have been fairly stable in 2015. Falling oil prices keep inflation down Lower gas, electricity and motor fuel prices pushed down inflation last year.
Just like in 1986 and 1987, oil price developments were the main reason behind the low energy prices. Average oil and petrol prices reached the lowest level over the past half a decade. The price of a barrel of North Sea (Brent) crude averaged 48.37 euros in 2015; the litre price of petrol (Euro 95) was 1.56 euros, versus 74.62 euros and 1.70 euros respectively in 2014.