Inflation steadies at 10%, while hospitality industry recovers

The rate of inflation in May fell one percentage point to 10.2%, according to preliminary calculations from national statistics agency CBS using the harmonised EU method of calculation. In April the harmonised rate was 11.2%.

In particular, fuel prices fell in May, when compared with April, but food is more expensive, the CBS said.

Food prices are now up 8.1% on a year ago, compared with a rise of  7.1% in April and 5.5% in March.

The CBS will publish its inflation figures calculated according to the Dutch system, which includes the impact of rental housing, on June 9.

The CBS also said on Tuesday that the ending of coronavirus restrictions in the first quarter of the year had helped almost double turnover in the hospitality industry.

Sales across the sector, which includes hotels, cafes and campsites, are now up 92% compared with the first quarter of 2021 when there was a strict lockdown.

Hotel turnover is still down over 20% on two years ago, before the pandemic struck, and cafes are down 5% but restaurants have overtaken their sales at in the first three months of 2020 by 6%, the CBS said.

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