Thursday 18 August 2022

More evidence of soaring inflation as CBS puts March rate at 9.7%


The rate of inflation in the Netherlands has risen to 9.7% when calculated according to Dutch methods, 2.2 percentage points below the harmonized European figure.

The current rate is the highest since April 1976, national statistics office CBS said on Thursday. Energy was 157% more expensive, while food was up 6.2% in price.

Home renovations, furniture and floor coverings were also 10% more expensive year on year.

The European method, which excludes rental housing costs, makes it possible to compare inflation within the eurozone, where the Netherlands now has one of the highest rates.

Wage rises have failed to keep pace with the surge in prices, going up by an average of 2.4% in the first three months of the year, the CBS said. Over the first quarter as a whole, inflation was 7.4%.

According to the Financieele Dagblad, the gap between price and wage rises has not been so wide since 1973.

The government has agreed a package of measures to reduce the impact of rising energy prices, particularly on the poorest households.

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