2023-11-14 09:39:09
The Dutch spent less in September than a year earlier. Among other things, we bought fewer shoes, clothes, food and also spent less in, for example, the catering industry or at the hairdresser. We did buy more cars.
All in all, consumer spending was 1.9 percent lower than in September last year, reports statistics agency CBS. It is the first time since March 2021 that spending has shrunk.
The decline was large in, among other things, the ‘durable goods’ category. This includes products such as shoes, clothing and items for the home. We bought 4.3 percent less of this in September than a year earlier.
Expenditure on energy and fuels, among other things, fell even further, by more than 7 percent. In the supermarket and specialty store, the money continued to flow somewhat, with a minus of only 1.7 percent.
In addition to goods, we also buy services, of course. Then you have to think regarding insurance, a catering visit or a trip by public transport. Expenditure here also fell, by 0.3 percent.
Statistics Netherlands emphasizes that the figures looked at the quantity of products and services purchased, not at their prices.
Prices have risen considerably in recent years
The fact that we are buying less may be due to the extreme inflation of recent years. Although prices have risen less rapidly lately, that does not mean that products and services are becoming cheaper.
According to CBS chief economist Peter Hein van Mulligen, prices often do not go down once they have risen. However, according to him, wages have risen faster than prices in recent times, meaning that workers have more money to spend. Those who receive benefits will have seen their income increase less rapidly.
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