Wednesday 30 November 2022

‘Shocking’ inflation numbers as rate rises 17.1% on EU measure

Dutch inflation calculated according to EU methods  Image: CBS

The Dutch annual rate of inflation soared to a record 17.1% in September when calculated according to European methods, national statistics office CBS said on Friday.

‘I was shocked: it is terrible,’ finance minister Sigrid Kaag said to broadcaster NOS. In August the rate reached 13.7%, and that too was a record.

‘You wonder how bad it can get,’ said economic affairs minister Micky Adriaansens.

Energy prices including motor fuels are the main motor behind the increase. They are up almost 114% on a year ago, the CBS said. Adriaansens’ office is working on an emergency solution for energy-intensive small and medium-sized businesses, such as bakeries.

The inflation rate according to the Dutch consumer price index (CPI) system, which was 12% in August, will be published on October 6. The main difference between the two systems is that the CPI includes rental housing developments and the Eurostat harmonised index of consumer prices (HICP) system does not.

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