Dutch Inflation Jumps to 3.5 Percent in May, Energy Costs Lead the Rise

Inflation in the Netherlands climbed to 3.5 percent in May 2026, up from 2.8 percent in April. That is according to a flash estimate released by Statistics Netherlands (CBS). The rise was driven mainly by higher energy and services costs.

The figure is based on early data and is not yet final. CBS will publish the full Consumer Price Index (CPI) figures for May on 9 June.

What Is Behind the Rise?

Energy was the biggest driver. Prices for energy, including motor fuels, rose 9.9 percent year on year in May. That compares to 7.9 percent in April.

Services also pushed Dutch inflation higher in May 2026. Prices in that category were up 4.7 percent compared to May last year. In April, services inflation stood at 3.6 percent.

Spending abroad got more expensive too. Consumption abroad, which covers what residents spend outside the Netherlands, rose 5.6 percent year on year. That is up from 3.4 percent in April.

Not everything jumped. Food, beverages and tobacco actually slowed down. That category rose just 0.4 percent year on year, compared to 1.5 percent in April. Non-energy industrial goods, think clothing and household items, rose 0.7 percent, up slightly from 0.3 percent in April.

Month on Month, Prices Barely Moved

Compared to April, consumer prices in May were 0.1 percent higher. That small change is worth putting in context. Monthly price changes in May are often influenced by seasonal effects. Clothing prices, for example, tend to drop during sale periods. Over the past ten years, the average month-on-month change in May was -0.1 percent.

CPI Versus HICP: What Is the Difference?

CBS publishes two Dutch inflation measures. The CPI is the main one used in the Netherlands. It includes home-ownership costs, which are calculated based on changes in housing rents.

The HICP, or Harmonised Index of Consumer Prices, is used to compare inflation across European Union countries. It does not include owner-occupier housing costs. In May, HICP inflation came in at 3.4 percent. In April, it was 2.5 percent.

For expats renting their homes, the CPI figure most closely reflects their day-to-day costs.

What to Watch

The full breakdown of all CPI categories will be published on 9 June. That release will provide a clearer picture of which aspects of daily life will cost more after May 2026 due to Dutch Inflation. CBS also updated its base year for CPI and HICP calculations in 2026, shifting the reference point from 2015 to 2025. This change affects how price levels are measured, but does not change the direction of the data.

With energy costs continuing to climb and services getting pricier, expats in the Netherlands are likely feeling the squeeze. The June release will confirm whether May’s jump holds up once all data comes in.

How to Protect Your Money From Inflation

When prices keep rising, letting all your cash sit idle can slowly erode its value. For many people, investing can help your money grow over time, though it comes with risk and works best with a long view. Buying a home can also be a useful hedge against inflation, since property values and rents often rise over time. Of course, not everyone is ready to invest or buy a house tomorrow, and that is fine. The key is to have a plan, keep some savings for emergencies, and make sure your money is not just lying around doing nothing.