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The annual inflation rate in the Netherlands slowed to 3.3% in January 2025, the lowest since June last year, confirming initial estimates and easing from 4.1% in December. The main downward pressure came from slower inflation in housing and utilities (3.6% vs. 4.4% in December), driven by a 4% drop in energy prices, which had risen 0.5% in the previous month. Additionally, price growth moderated for transport (1.2% vs. 2.2%) and recreation and culture (1.8% vs. 2.6%), while costs continued to decline for upholstery and household appliances (-1.2% vs. -1.7%). In contrast, food inflation accelerated to 3.5% from 3% in December. On a monthly basis, consumer prices fell 0.2%, reversing a 0.1% increase in December. Meanwhile, the harmonized CPI, used for EU-wide comparisons, rose 2.9% year-on-year in January, down from 3.9% in December.