Prices of many products in the Netherlands are falling, says ING

While we can’t deny that the prices of many items in the Netherlands are going up, several products have also seen significant price drops, according to ING, from olive oil and fiction books to petrol and international flights.

Many products in the Netherlands see price drops despite inflation

Based on figures from Statistics Netherlands (CBS), consumer goods and services were 2,9 percent more expensive in July 2025 than a year earlier - slightly lower than the 3,1 percent inflation measured for June this year. Despite this, ING economist Marcel Klok points out that there are still many products that are getting cheaper.

54 products of the 186 subclasses in the CBS consumer price index (CPI) saw lower prices in July than a year ago. According to the Dutch bank, categories such as recreation and culture, food and drinks, upholstery and household appliances, clothes and shoes, transport and communication, among others, showed deflation. 

Some products in particular saw sharp drops in prices on average. Olive oil was 12,5 percent cheaper than a year ago and fiction books were 9,5 percent cheaper. Audiovisual media (9,3 percent), sound equipment (8,9 percent) and personal computers (7,3 percent) also saw the largest drop in costs. Potatoes, international flights, washing machines and dryers, mobile telephone services, petrol and coffee machines were also cheaper in July 2025 than last year.

Falling prices due to technological development and supply increases

The lower prices of several products in the Netherlands are down to a number of factors. According to ING, these are technological developments, adjusted trade agreements, competitive supply and exchange rates.

All these price drops reduced the total inflation rate for July by 0,64 percentage points. The most noticeable contributor to lower inflation was petrol prices, which recently dropped to the lowest level since October 2024.