Dutch inflation rate hits 1.7%, highest level in three years

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The Dutch rate of inflation shot up from 1% to 1.7% in January, its highest level since the end of 2013, the national statistics office CBS said on Thursday.

High petrol and diesel prices were the main driver behind the increase, the CBS said. In addition, the fact that the Christmas school break continued well into January had an impact. Prices for airline tickets and rental accommodation are higher during holidays, the CBS said.

Inflation excluding the cost of food, energy, alcohol and tobacco, which all fluctuate, was 1.4%, the CBS said.

Using the harmonised EU method to calculate inflation produces a figure of 1.6% in January, up from 0.7% in December last year. The eurozone average rose from 1.1% to 1.8%.

The European method does not take the cost of housing into account.

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