Tuesday 05 July 2022

Dutch inflation nears 12% in March as fuel and food prices soar

The Dutch rate of inflation hit 11.9% in March when calculated according to European methods, national statistics agency CBS said on Friday.

That is the highest figure since the oil crisis of 1975, the CBS said. The figures are preliminary and may be revised.

In February, inflation was 7.3%, according to the harmonised HICP method but 6.2% when using the Dutch method, which includes different goods and services and the impact of rental housing.

The Dutch harmonised rate is the third highest in the eurozone, according to figures published by European statistics agency Eurostat later on Friday. Only Lithuania and Estonia have higher rates.

Inflation has been rising across Europe, reaching 7.6% in Germany in March, its highest level since the country reunited in 1990. In Belgium, the figure is 9.3%.

The average for the eurozone is 7.5%.

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