The annual inflation rate in the Netherlands decreased to 3.3% in May, according to the national statistics agency CBS, following a rate of 4.1% in April. This decrease occurred as households booked their summer holidays.

Despite the drop, inflation has remained above 3% for over a year, exceeding the 2% target that economists consider optimal for a stable economy. The Dutch inflation rate also surpasses the European average of 2.4%.

According to European methods of calculation, which exclude the impact of rental housing, the Dutch inflation rate was 3%. The CBS indicated that rising food prices are the primary driver of the high inflation rate, while energy costs continue to fall.