Thursday 07 July 2022

Inflation low since introduction of the euro 10 years ago

In the 10 years since the euro was introduced in 12 eurozone countries, inflation in the Netherlands has remained low and stable, according to new research by the national statistics office CBS.

Prior to the introduction of the euro, inflation was often higher and fluctuated more strongly, the research shows. Since 2002, inflation has hovered between 0.5% and just over 2% – averaging at 1.9%.
This is ‘practically the first time since World War II that inflation has been below 2% when averaged over 10 years,’ the CBS said.
Between 1992 and 2001, inflation averaged 2.7%.
Average inflation in the eurozone over the first 10 years of the euro was 2.08%, almost in line with European Central Bank targets. Best individual performers were Germany, Finland and the Netherlands.

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