The annual inflation rate in the Netherlands eased to 2.9% in November 2025 from 3.1% in October, marking the lowest reading in three months, according to preliminary estimates. The main downward pressure came from a sharp slowdown in energy, including motor fuels, with inflation falling to 0.9% from 2.1% in October. Price growth also moderated for food, beverages, and tobacco (3.1% vs 3.8%), and services (4.3% vs 4.5%). Meanwhile, inflation edged higher for industrial goods excluding energy and motor fuels (0.5% vs 0.4%). On a monthly basis, consumer prices are expected to fall 0.8%, following a 0.3% gain in October. The HICP-based annual inflation, which excludes owner-occupied housing costs, was estimated at 2.6% in November, down from 3% in October.

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