CBS (Statistics Netherlands) has developed the basis of the value index below at the request of the Dutch Association of Insurers. Each year, the established index of the past year is translated into the index for the coming year. This adjustment is standardised and makes use of the projected price and quantity development of consumer households for the current year. The Netherlands Bureau for Economic Policy Analysis publishes these annually in the Macroeconomic Outlook.

The index takes into account the price and volume development of private incomes. This means that value changes other than those caused by price changes are also taken into account.

There is a big difference between the index figure 2021 and 2022. The explanation for this is the following. In 2019, the index was calculated at 147.9. Then came the COVID crisis. The CPB assumed that consumption would fall by 5.8 percent as a result. This was because it was expected that there would be many layoffs and bankruptcies or that more would be saved. This number is part of the calculation of the index and therefore the index for 2021 fell to 138.5. However, the expected decline has not materialised. Instead, Statistics Netherlands saw a 3.4 percent increase in consumer goods in household effects in 2020. This means that, in hindsight, the index should not have fallen but should have risen. With the methodology, the Covenant always corrects all past adjustments at once in the new index. The 2022 index is therefore based on the actual indices for 2021 instead of the expected figure for 2021. For next year, CPB expects another growth in consumption and price increases. This means that the index figure for 2022 has been set at 155.7. The corresponding amount per point for the inventory value meter is 1105.82 euros.

Base year of the index is 1993 (=100).

* Calculation by the Dutch Association of Insurers (2017).