Inflation cools slightly, prices rose less sharply in July than in June

So, just because inflation is cooling down doesn't mean prices are no longer rising. Consumer prices rose by 1.3 percent in July compared to June. However, this increase is no longer as sharp as it was years ago.

Inflation was mainly caused by higher prices for food, beverages, and tobacco. These products rose 4.1 percent in July, following a 4.6 percent increase in June. According to CBS chief economist Peter Hein van Mulligen, the price increase is primarily due to food. He singles out meat and coffee.

Service sector prices rose 4 percent last month, following a 4.4 percent increase in June. Energy prices (including fuels) rose more sharply in July than in June. Energy prices rose 1 percent, following a 0.5 percent increase a month earlier.

With a price increase of 2.9 percent, the inflation rate is still above the European Central Bank's (ECB) benchmark. The ECB states that two percent inflation is good for the economy. Van Mulligen also notes that inflation in the Netherlands is still considerably higher than in the rest of Europe and therefore still "on the high side."

Statistics Netherlands (CBS) bases this quick estimate on data that is still incomplete. The final inflation figures for July will be published on August 12. Last month, the final figure was the same as the figure after the quick estimate.

This video from March explains which groups had the highest inflation: