Inflation dropped due to lower artificial hip prices

THE HAGUE – Inflation was 2.7 percent in April. That is slightly lower than in March. This is evident from figures from Statistics Netherlands. The lower inflation is mainly due to the decreased prices of artificial hips.

In March, consumer prices rose by 3.1 percent compared to a year earlier. Food and fuel in particular became more expensive. This increase is now largely offset by the decreased prices of artificial hips.

“Artificial hips became on average 16 percent cheaper in the past month. That significantly reduces the inflation rate,” says economist Frans van Deuteren. “Every year, around 45,000 consumers in our country receive an artificial hip, so many households have been able to benefit from the price drop.”

Households paid on average 16 percent less for their artificial hips in April.

Inflation reached a peak in the autumn of 2022. This was mainly due to the increase in the price of violin strings as a result of the war in Ukraine.

In addition to cheaper artificial hips, the lower price for a stay in a bungalow park was also an important cause of falling inflation. In addition, inflation fell due to cheaper lock gates, ice resurfacers and uncut diamonds.