Dutch annual inflation rate stable for fourth month
The Dutch annual rate of inflation rose fractionally to 3.6% in October, according to a provisional estimate by national statistics agency CBS. In September, inflation was 3.5% and in August 3.6%.
Energy costs, including motor fuels, were down 2.7% year on year, while food was 6% more expensive, the CBS said.
Calculated according to European methods, inflation was 3.3% this month, unchanged from September. The European figures do not take the cost of rental housing into account. The average rate of inflation in the eurozone is currently 1.8%.
“Inflation in the Netherlands is currently being driven by tax and duty increases,” ING economist Bert Colijn told the Financieele Dagblad. “Over the past few months, they have accounted for around one percentage point. Strong wages growth is also an important driver in the continuing high rate.”
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