Price increases in April were slightly smaller than in March, according to a preliminary calculation by Statistics Netherlands. According to the European calculation method, inflation is 11.2 percent.
It is no surprise that inflation is lower than March’s 11.9 percent. Oil and gas prices were lower in April than in March, when world market prices jumped enormously due to the war in Ukraine.
Although energy prices were lower in April than in March, they are still much higher than a year ago. Crude oil is about 75 percent more expensive than a year ago and gas is six times more expensive.
The impact of higher oil prices in April was also somewhat mitigated by the reduction in fuel excise duties. On April 1, the excise duty on petrol was reduced by 17 cents per liter and for diesel by 11 cents.
More expensive food
Higher energy prices are still the main reason for the relatively strong inflation. Food is also getting more expensive. In March, food prices rose by 5.5 percent, in April that rose to 7.2 percent.
The price increases in the supermarkets will therefore not end for the time being. Food group Unilever made yesterday known that raw material costs continue to rise and that therefore prices will be increased further this year and in the coming years.
Later this morning, the European statistical office Eurostat will announce how much prices have risen across the eurozone. Inflation in Germany was 7.8 percent in April, a fraction more than the 7.6 percent in March.
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