Dutch inflation rate nears 40 year high as gas prices soar

Photo: Depositphotos.com
Photo: Depositphotos.com

The official Dutch rate of inflation hit 5.2% in November, its highest level since September 1982, national statistics office CBS said on Tuesday.

In October, inflation was 3.4%.

The CBS says soaring gas and electricity prices are responsible for two percentage points of the annual increase, but higher fuel costs, plus the price of clothes and food, have also had an impact.

Calculated according to the harmonized EU standard, the Dutch inflation rate hit 5.9% in November, up 2.2 percentage points on October and its highest ever level. The earlier forecast quoted by Eurostat in November, was 5.6%.

The average eurozone inflation rate was 4.9% in November, up from 4.1% in October.

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