2024 clocked up biggest rise in spending power in 20 years: CBS

Last year the Dutch benefited from the biggest increase in spending power in over 20 years, with median household income up by 3.6%, according to figures from national statistics agency CBS.
The main drivers behind the rise were significantly higher wages, the CBS said. The median increase means that 50% of household incomes did not go up by as much while the rest were higher.
Workers were best off with an average rise in spending power of 5.3%. Inflation rose to 3.1% but was counterbalanced by an average wage rise of 6.8% – the highest increase in 40 years. People who changed to a better paid job also increased their spending power.
Households on benefits only increased their spending power by 0.2%, due to the abolition of the energy allowance.
The self-employed had 3.1% more to spend as measures such as a lower self-employed tax rebate depressed their spending power. Pensioners saw an increase of 1.8% following three consecutive years of spending power decline.
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