Wednesday 05 October 2022

Inflation hits new high of 13.6%

Source: CBS

Inflation in the Netherlands hit a new high of 13.6% in August according to data released by the national statistics office CBS on Wednesday.

In July, the European harmonised consumer price index or HICP, was 11.6%. The HICP is harmonised across eurozone countries and the European Central Bank aims for a 2% rate of inflation.

The measure is based on the prices of a ‘shopping basket’ of goods consumers typically purchase, including food, clothes, cars and services such as mobile phone charges, train tickets and rent.

The Netherlands also tallies a separate inflation calculation, the consumer price index or CPI, which also includes certain taxes, costs associated with owner-occupied buildings and pension contributions.

Wednesday’s numbers are based on preliminary data and the final figures will be released on September 6.

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