Prices of goods and services for consumers were 3.4 percent higher in October than in October 2020. Inflation was not that high in almost 20 years, reports the Central Bureau of Statistics: it is the highest inflation since April 2002.
Inflation has been rising for a few months now. This is largely because energy is becoming more expensive, especially gas. Energy prices can fluctuate strongly, driving inflation up or slowing it down considerably.
Energy prices are also so high in relative terms because they were very low a year ago due to the corona crisis.
Euro countries
Not only energy became more expensive, but the increased prices of clothing also contributed to the higher inflation.
Consumer prices have also risen sharply outside the Netherlands. In the euro countries, inflation averaged 4.1 percent in October, according to a first estimate from Eurostat statistics office last week. And in the US, inflation was 5.4 percent in September.
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