The cost of living in the Netherlands increased by 3.8% in February compared to the same month last year, according to a preliminary estimate from Statistics Netherlands (CBS). This marks a

rise from the 3.3% inflation rate recorded in January.

The main driver of inflation last month was the increase in prices for food, beverages, and tobacco, which surged by 7.5% after a 7% rise in January. Additionally, service sector prices climbed by 4.6%, slightly higher than the 4.4% increase in the previous month. Meanwhile, energy prices, including motor fuels, dropped by 1.9%, following a 1.4% decline in January.

Compared to January, consumer prices in February rose by 1.1%. CBS noted that these initial estimates are based on incomplete data, with the final inflation figures for February set to be released on March 11.

Using the European calculation method, inflation in the Netherlands stood at 3.5% last month, up from 3.0% in January. This method, standardized across the European Union, does not factor in homeownership costs.

Later today, the European statistics agency Eurostat will release inflation data for the eurozone. In January, eurozone inflation was recorded at 2.5%. Inflation in the Netherlands has consistently remained above the eurozone average, primarily due to rising costs for services and tobacco products, according to CBS.