Thursday 18 August 2022

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

Photo: Depositphotos.com

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.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.