Inflation in the Netherlands rose further in January, to 6.4 percent, reports the Central Bureau of Statistics. This is the highest inflation rate since June 1982. In december, inflation was 5.7 percent.
Energy prices, in particular, have continued to rise. In January, energy (electricity, gas and district heating) was 90 percent more expensive than a year earlier. In december, it was 75 percent.
Food prices also contributed to the increase in inflation. Food products were 4.3 percent more expensive in January than a year earlier. In december, it was 2.6 percent. Bread, cheese and cottage cheese made the greatest contribution to the rise in inflation.
Worrisome
According to the European measurement method, inflation in the Netherlands is even 7.6 percent. In the eurozone as a whole, it is 5.1%. Dutch inflation is therefore a lot higher than the European average and that difference has not been that big in a long time.
President Klaas Knot of De Nederlandsche Bank warned Sunday that inflation will certainly be higher than normal until the summer of next year. He called that “extremely worrying” for people with a narrow Purse, who spend a large part of their income on energy and food.
Knot expects the European Central Bank to raise interest rates in the last quarter of this year to curb inflation. At the beginning of this month, the ECB decided to leave inflation unchanged, but Bank President Christine Lagarde did hint at future rate hikes.
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