Thursday 20 January 2022

Inflation hits 5.7% in December, taking annual figure to 2.7%

Higher gas prices are fueling inflation. Photo: Depositphotos.com

Inflation hit 5.7% in December, taking the annual rate to 2.7%, national statistics agency CBS said on Tuesday.

December’s rise was up 0.5 percentage point on November and was largely down to higher fuel and food prices, the CBS said. Energy prices were up almost 75% in December, following a 57% rise in the previous month.

Last week, European statistics agency Eurostat said the Dutch rate of inflation went up again to 6.4% in December, when calculated according to European methods.

The main difference between the two systems is the role of housing. The European system for calculating inflation, or HICP, does not include housing costs, but the CPI, or Dutch system, includes developments on the rental housing market.

The Netherlands currently has the sixth highest inflation rate in the eurozone. In neighbouring Belgium, the figure is 6.5%, in Germany 5.7%.

The EU average was 5% in December, up marginally from November, Eurostat said.

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